Betting on politics or reality TV: Is it legit?

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In recent years, gambling on politics and even on reality television has become very popular. We now bets on who wins an election, who wins an award, and who gets voted off in reality TV. It is definitely an entertaining experience, but the result is not necessarily completely reliant on performance or numbers as in sports. Nevertheless, it is making headway and a few gamblers are already saying that it could be as profitable as conventional betting.