Betting on America: Two Gamblers, One Presidential Election

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Dec 10, 2024

On election night, a unique twist emerged as Americans watched not just for political results but also for potential monetary wins. Personal stories of two gamblers reveal the emotional stakes of betting on presidential candidates, showcasing contrasting motivations and backgrounds. The discussion dives into the evolving landscape of political gambling and its appeal, especially among younger voters, while exploring the implications on electoral integrity. As tensions rise, humor and reflection on the fallout of election results add depth to this intriguing intersection of politics and personal finance.

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ANECDOTE

Mike's Bet

Mike, a Latino Democrat, bet nearly $10,000 on Kamala Harris winning.
He felt confident due to Trump's perceived instability and Harris's strong campaign.

INSIGHT

Significant Risk

Mike's $2,500 bet on Harris was a significant amount for him, comparable to a TV he researched for six months.
This highlights the substantial financial risk he took on the election.

ANECDOTE

Jordan's All-In Bet

Jordan, a Trump supporter, bet $60,000 on Trump's victory, including recent paychecks and credit card points.
His confidence in Trump's win led him to invest heavily despite personal financial risk.

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On election night, while many voters across the country were focused on who would win the presidency, a growing number of Americans were watching the returns with another question in mind: will I win or lose money? That’s because, just weeks before November 5th, a judge ruled that for the first time in almost a century Americans could bet large amounts of money on the outcome of political races.

In this episode, we talk to two people who made big bets: Mike, a Latino Democrat who bet $10,000 on Kamala Harris winning, and Jordan, a white conservative Trump supporter who risked $60,000 on Trump's victory. And Slate’s business and tech reporter Nitish Pahwa helps Anna understand the changing legal context for gambling in America.

Read Slate’s Nitish Pahwa's post on prediction markets and politics here.

Plus, we have new totebags for sale! Check them out.

Podcast production by Zoe Azulay

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