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Justin Trudeau’s exit fuels political betting in Canada
Justin Trudeau’s rumored resignation as Liberal Party leader has woken up different discussions in Canada’s political scene, causing the betting markets to take the chance.
This news has fueled an increase in election betting. Sportsbooks are now taking wagers on Trudeau’s future, with major platforms like FanDuel and BetMGM showing strong confidence in a Conservative victory. FanDuel lists the Conservatives at -1000, with the Liberals lagging at +1900. BetMGM gives Conservatives -2000 odds, while the Liberals sit at +800. Bettors see the NDP as a long shot, with odds as high as +3500.
The prediction market is also recording an increase. According to Bettors, there is an 8% chance that Trudeau will resign by Friday and a 12% chance that he will resign by the end of the year. However, the likelihood of a federal election next year is only 1%.
With Trudeau’s approval rating at 28%, gamblers are taking positions on his political survival. As Canadian politics becomes a high-stakes game, bettors are following every change, turning this political crisis into an amazing opportunity for wagering.
Election betting
Canada is not the only country where election betting takes a bigger turn. In the US, critics expressed their concerns that allowing election betting could undermine the integrity of the democratic process. The CFTC has proposed banning political event trading to protect elections from becoming commodities. As the conversation about betting in politics evolves, the future of these markets remains uncertain, highlighting the need to balance gambling with the principles of democracy.
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