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By Alicia Adamczyk
November 7, 2016
JEWEL SAMAD—AFP/Getty Images

It appears many people across the world are coping with the pressures of the 2016 election by trying to make money off of it.

While election betting in the U.S. is illegal—you can’t make bets on the election in places like Las Vegas—online forums and international operations wagering on Tuesday’s outcome have proliferated. Internet betting exchanges, like Betfair, which is based in the U.K., have seen record betting related to the election’s outcome, Reuters reports. Betfair reports $130 million had been traded as of Sunday, compared to just $50 million on the 2012 election.

In British Columbia, betting on the election has surpassed even the Super Bowl, according to B.C. Lottery Corporation. “I think with this election it has been so unpredictable, and it has that sort of Hollywood factor, if you will, that I think it has really captured the imagination of British Columbians,” BCLC spokesman Doug Chen told CBC News.

The only legal way to bet on the election in the U.S. is via an academic exchange (because the information is used for research). But don’t expect to get rich off of them: PredictIt, a forum set up by Victoria University of Wellington, allows betting, but caps individual investment at $850.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST