Prop Bets For President Biden’s Press Conference Imply Bitcoin & Stock Market Gains
While it did take President Joe Biden a considerable amount of time to provide the first State of the Union Address during his regime, he now appears to be warming up the camera and making more appearances as of late.
Biden has scheduled his first press conference as President for tomorrow, and political betting sites have now produced a series of prop bets asking a variety of questions regarding the event.
The first two proposition bets for tomorrow’s press conference suggest that Biden will focus heavily on the nation’s COVID-19 vaccination effort, and will also place the topic of gun control and the 2nd Amendment first and foremost.
What will Biden say first?
- Vaccine or Vaccination -200
- COVID or Coronavirus +200
- Stimulus or package +400
Which topic will Biden address first?
- Gun Control -400
- Border Migrants +250
The potential banning of automatic weapons is once again in the crosshairs of federal politics as a result of two recent deadly shooting sprees in Atlanta, Georgia, and Boulder, Colorado.
Only time will tell if Biden’s remarks will galvanize an effort to remove automatic weapons from the realm of legal firearms, as all prior efforts in recent years have failed to gain traction.
The following betting odds for Joe Biden indicate that the contents of his speech will cause an uptick in his approval rating, and will also cause for gains in the US stock market.
Will Biden Approval rating be higher or lower?
- Higher -140
- Lower +100
Will the Dow Jones Average be up or down when the market closes on March 25?
- Up -175
- Down +135
The below political prop bet anticipates that the price of Bitcoin (BTC) will rise following Biden’s speech. BTC has risen to historic highs in recent weeks, paying off savvy investors who bought in early and establishing cryptocurrency as a legitimate digital monetary unit worldwide.
Will Bitcoin be up or down on March 25, 2021?
- Up -140
- Down +100
Presidential sportsbook sites that are operating offshore prefer the use of Bitcoin and other cryptocurrencies because they can transact quickly without being held up by regulatory oversight.
Cryptocurrencies like Bitcoin do not fall under the governance of any nation or banking institution and therefore are not subject to their laws. Without any hurdles in place for BTC and other forms of crypto, deposits can be made instantly, and withdrawals can complete in less than 24 hours – often as soon as 15 minutes.
Some US-based financial institutions will attempt to block monetary transactions with online election betting sites, but that’s not the case with cryptocurrency.
Also, because online sportsbooks adopted cryptocurrency during its infancy, they’ve experienced the same gains that investors have, and are now paying out winnings at pennies on the dollar. Crypto is a win-win for the bettors and the books, and the built-in encryption via the blockchain is as secure as can be.
Other cryptocurrencies that we’ve seen accepted at the top political sportsbook sites include:
- Bitcoin (BTC)
- Bitcoin Cash
These proposition bets for Biden’s speech will accept live betting action until the winning option has revealed itself, but the stock odds will close at the same time the market does.
Betting Odds – BetOnline
Source – Politico