Would you bet the house that the Democrats will win the House? Some people who take bets for a living sure won’t — they’re wagering that the GOP will likely maintain a House of Representatives majority.
Those making this prediction are the odds-makers at online betting site MyBookie. This is significant. Professional pollsters don’t necessarily lose money if they’re shown to have been inaccurate; in fact, telling mainstream media what they want to hear may guarantee their “business.” Moreover, pollsters tend to be highly political.
Betting sites, however, absolutely will lose money if they get the odds wrong. Additionally, they take wagers on everything from golf to wrestling to who will play the
next James Bond to what the first entity to
send a human to Mars will be. So while everyone has opinions and even passions, bookies are not “political people,” per se, and as a group likely don’t have a horse in the midterm race.
Put simply and generally, pollsters get into polling because they’re interested in politics; odds-makers get into odds-making because they’re interested in gambling and money.
Treating the matter,
American Thinker first
reports on the polls and writes that they
continue to predict a blue wave, albeit one that might be too small for surfers. But polls depend on constructing a model of the expected turnout and then finding respondents to match the model: a certain percentage of Republicans, independents, and Democrats. If the pollsters fail to accurately predict which kinds of voters will be motivated in an off-year election, their polls are useless.
That hasn't stopped them from offering their own versions of the odds favoring the Democrats to take over the lower chamber. Nate Silver, who remains the media’s favorite polling guru despite offering odds well north of 90% favoring a Hillary Clinton win in 2016, puts the odds of a Democrat speaker of the House next year at nearly the same level of certainty:
85%.
But as
USA Today writes of MyBookie’s prediction:
As of Sunday, the odds of the GOP keeping the House are at -140. That means you would need to bet $140 on the Republicans to win $100 if they stay in the majority. The Democrats are at +110, meaning a $100 bet would win you $110 if the Democrats manage to wrest control of the House.
The site also has the Republicans favored to hold the White House in the 2020 presidential election. The GOP is at -170 in that race, compared to +130 for the Democrats.
More at:
https://www.thenewamerican.com/usnews/politics/item/30492-real-experts-say-gop-will-keep-house