Nevada Lawmakers Consider Novelty Bets on Presidential Elections
In Europe, it’s known as novelty betting. Bookmakers from Paddy Power to William Hill post odds and take bets on a variety of activities, from who looks good to win the Nobel Prizes this year to whether Prince Harry’s next girlfriend will be a blonde or a brunette and who might host the Oscars in 2014.
Paddy Power’s favorite to host the Oscar’s next year is Justin Timberlake at 2-to-1 . The odds are 8-to-11 that Harry’s next girlfriend will be a blonde.
But what produces increased publicity if only modest handle for British bookmakers is betting on U.S. politics. And oddsmakers and gaming industry analysts in Las Vegas said that if successful, a Nevada state senator’s efforts to legalize betting on politics will produce more notoriety than revenue.