Nevada looks to legalize wagering on federal elections

Nevada Senator Tick Segerblom (D) has proposed a bill that would legalize gambling on Presidential elections in the state.

Election-time betting has been popular with gamblers and European bookmakers. Irish sportsbook  Paddy Power reportedly paid out $650,000 to Obama bettors in the 2012 elections.

"If they can bet on our election in England," Segerblom said in a report in Time, "then there's no reason we couldn't bet on our election in the United States."

Presidential odds have a long history in the country. Newspapers would reference candidates' odds as an indicator long before polls were ever created.

Segerblom believes gambling is becoming more and more "socially acceptable" primarily due to sports betting and online gaming.

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