Free Election Contests? Why Not for Real Money?

If you haven't placed your Election bet yet, do so now.  You have just a matter of hours at this point.

Betting on the Presidential and Senate races is available from all states, just not with the in-state licensed sites.

Instead, a number of state venues are offering free Elections contests that pay out real money.

Draftkings offers a free $100,000 Presidential Election pool.  Customers are asked to answer 12 questions by 5 pm ET Tuesday for a chance to win $5000.  As of 10 a.m. Monday, 368,870 entries had been submitted.

FanDuel's “Bet The Ballot” is offering its users a $50,000 prize pool. They ask 17 questions and all picks must be entered by Tuesday at 5:59 p.m. ET.

As for the sites offering real money Presidential Elections wagering, there has been some $1 billion bet to date worldwide. European bookmakers welcome this type of betting.  The only caveat, US customers can't bet.

- Gilbert Horowitz, Gambling911.com