The news networks have projected a win for Democrat candidate Joe Biden as the GOP candidate and sitting US President Donald Trump is yet to concede. Meanwhile, sportsbooks have yet to concede.
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Dave Mason of BetOnline tweeted out that his company is in a holding pattern as it awaits recounts and critical battleground state certifications.
Election bets will remain pending for the time-being.
There will most likely be recounts in a few of these states. Additionally, there will be legal challenges from Trump.
Hopefully we can grade them soon, but we need to be patient.
— Dave Mason (@DaveMasonBOL) November 7, 2020
The results we see on TV on election night — or in this year’s case, the Saturday after — are not official but rather are projections based on modeling.
The most likely trigger to having bets graded will be if Trump concedes. The Twitter universe went berserk Sunday morning after Trump seemed to do just that. #TrumpConceded was the number one trending hashtag.
“He won because the Election was Rigged,” Trump tweeted in reference to Biden’s called victory. He later went on to tweet: “I concede NOTHING! We have a long way to go.”
Assuming Trump does not concede, December 8 is the date to circle on your calendars as this is the federal deadline for certification. This is likely the absolute last date to determine grading of this year’s election bets. The Trump campaign filing lawsuits in key states in an attempt to slow the process could – but probably won’t – push that date back a bit in certain key states.
A more likely date would be Nov. 23, the last day for county election boards to file their results to the state Pennsylvania. Trump cannot win without taking PA.
For further reference, Georgia’s secretary of state has until 17 days after the election to certify results. That would be Nov. 20 this year.
In Arizona, the secretary of state canvasses on the fourth Monday after Election Day, Nov. 30 this year.
Books could opt to wait until the certification process in another key battleground state, Wisconsin. That happens December 30.
– GIlbert Horowitz, Gambling911.com