Oddsmakers set lines on November legalization measures

With November’s election right around the corner, the political oddsmakers at MyBookie.ag are putting their money on marijuana legalization being a big winner this fall.

There is unprecedented support for marijuana legalization, and advocates say the midterm elections could mark the point of no return for a movement that has been gathering steam for years. Gamblers seem to agree.

Currently the online betting site favors pro-marijuana initiatives to pass in several states on the November ballot. Recreational legalization is on the ballot in Michigan and North Dakota while medical legalization goes to voters in Missouri and Utah.

If voters in all four states approve their measures, 2018 will end with 32 medical marijuana states and 11 that allow cannabis for adults. This would add even more momentum to the movement for national reform. 

Adult Use:

Will Michigan legalize recreational Marijuana before 2020?

Yes       1/2 (-200)

No        8/5 (+160)

Will North Dakota legalize recreational Marijuana before 2020?

Yes       1/4 (-400)

No        3/1 (+300)

It’s been just six years since Colorado and Washington became the first states in the country to legalize marijuana, but in that short time span, seven other states and the District of Columbia have followed. Thirty states have legalized medical cannabis, and the entire country of Canada legalized adult-use this month. 

While the odds are favorable for individual states to legalize this fall, the bookmakers are not as high on the federal government removing the prohibition on marijuana before 2020, putting the ads at 2-to-1 against the United States taking that major step.

Below are odds for each state with initiatives on the November ballet, according to a press release from MyBookie.ag. For non-gamblers, the “favored” wager has the minus number (-200 for example). The long-shot has the “+” as it’s less likely to win. So, looking at Michigan, for example, it’s more likely that the initiative will pass (-200, bet $200 to win $100). 

Medical:

Will Missouri remove restrictions on medical marijuana before 2020?

Yes       1/2 (-200)

No        8/5 (+160)

Will Utah remove restrictions on medical marijuana before 2020?

Yes       4/6 (-150)

No        11/10 (+110)

Conversely, “No” is at +160 meaning you bet $100 to win $160. A better deal, but longer odds.

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