2022 Midterm Senate Election Betting Odds for Pennsylvania: Fetterman or Oz to Capitol Hill?

Democrats entered this Pennsylvania race with low hopes of gaining a seat from the Keystone State, however, a lot has changed since the party primary elections. This has seen the Democratic Party shift to the offensive and the Republican Party to the defensive.

Who Will Win the 2022 Pennsylvania Senate Race?

Oddsmakers predict John Fetterman (Democrat) will win the 2022 Pennsylvania Senate race with 58% confidence.

Current odds give Dr. Mehmet Oz (Republican) a 42% chance of winning the 2022 Pennsylvania Senate race.

2022 Pennsylvania Midterm Senate Election Odds

As we alluded to above, the Democratic Party was expected to gain no ground in Pennsylvania and was looking elsewhere to gain any traction in its quest to retain its Senate majority. However, as time has gone on, Democratic candidate John Fetterman has gained ground and turned the PA race into a tossup.

Bet on the 2022 Pennsylvania Senate Midterm Election

According to PredictIt, the only place in the United States where you can legally bet on the Pennsylvania Senate election:

• If you bet $100 on Mehmet Oz (R) to win, you would net $58.73
• If you bet$100 on Fetterman (D) to win, you would net $132.56

FiveThirtyEight 2022 Pennsylvania Senate Midterm Election Odds

FiveThirtyEight has given John Fetterman (D) a 58% chance to win the Pennsylvania Senate election, while Mehmet Oz (R) has a 42% chance to win.

This is a stark contrast to the PredictIt odds where they have basically written Oz in as the victor.

FiveThirtyEight is one of the most trusted and well-known polling organizations in the country.

Betfair 2022 Pennsylvania Senate Midterm Election Odds

Betfair (UK) sportsbook has priced Mehmet Oz (R) at -175 to win the Pennsylvania Senate election and John Fetterman at +125 to win.

These odds fall more in line with PredictIt than FiveThirtyEight.

Where Can You Bet on U.S. Elections in the U.S.?

If you live in the U.S., your only legal option to “bet” on U.S. elections is PredictIt. Betting on PredictIt is more akin to buying stocks, however, than actually betting a set line as you would for a regular sporting event.

The options to legally bet on United States elections are few and far between. It wasn’t always this way. In fact, 100 years ago, betting on U.S. elections was the equivalent of betting on the Super Bowl! The odds for the elections were used as a gauge for how well a candidate was doing in the election, very much like the polls we see today.

However, as time went on, lawmakers grew concerned that allowing money to be wagered on elections could corrupt the integrity of the elections themselves. This led to the practice of betting on political elections in the U.S. becoming illegal and most of the companies taking wagers either shut down or stopped offering election markets.

How you’d invest is simple! First, you must deposit money into your account. Following the deposit, there are a number of marketplaces available, including individual Senate races, individual House races, presidential odds, which party will control each chamber of Congress, and so much more!

The cents provided are how much each market costs. For example, let’s say the odds for the Democratic Party to win the majority in the Senate is 32¢.

Buying 10 shares at 32¢ would mean a total cost of $3.20. If the Democrats end up winning, those shares would settle at $10, netting a profit of $6.80. Owners of shares can sell at any point, just like in the stock market.

In place of vig, which sportsbooks use to make money, PredictIt utilizes post-trading fees. PredictIt takes 10% in earnings out of every transaction that makes a profit and 5% on withdrawals. Sportsbooks usually take roughly 10% of vigorish out of every transaction, whether a bettor wins or loses.

Where Can You Bet on U.S. Elections Outside the U.S.?

Outside of the United States, the rules are different and many non-U.S. books will price markets and take bets on elections. This makes plenty of sense seeing that someone not in the U.S. cannot affect the election results and a sportsbook operating outside of the United States is not subject to the U.S. rules.

There are a large number of sportsbooks that will take bets on U.S. elections. Some of those include:

• DraftKings (Ontario)
• Betfair (UK)
• BetUs