I never bet on politics. It's too risky. Because if you don't know about politics, you will lose. Again, many times it is already clear who will win the next elections in many countries. Many times everyone thinks that this team will win, then the opposite happens. Overall, it's a high risky thing.
Actually, in my view, it is not risky if you know who's many supporters you can bet who is the highest votes. I tried once betting on a national politics its not online site since I cant find doing betting for a politics its just a bet with individual. If you are updated with the news and survey about the politicians candidates you will have an idea who to vote, so it is not a risky thing.