It never ceases to amaze me the things people will bet on. It reminds me of movies set on golf courses (major betting hubs) like Tin Cup or Caddy Shack, where the players bet whether or not they can drive the ball a certain distance, whether they can outdrive someone else, whether a put is made and more. I remember a scene where the golf course employees were taking bets on which bugs would get electrocuted by the bug zapper. People will bet on anything. That includes politics, where it is commonplace to bet on whether a politician will win an election, whether a certain bill will pass, whether a certain party will gain control of a chamber and more.

Right now, George Osborne is a major subject of betting at online bookmakers. Osborne, a British Conservative politician, currently serves as Chancellor of the Exchequer of the United Kingdom. That is a cabinet position in charge of all financial and economic matters in the UK. Right now, punters are betting on whether or not he will keep his job.

Yesterday, Osborne released the Comprehensive Spending Review, which sets firm three-year spending limits for all public sectors. In his Spending Review, Osborne made significant cuts to the expenditures of the United Kingdom, as expected. The economic path laid out by the Spending Review will have a large impact on the UK’s recovery from the Great Recession. Therefore, it will also have a large impact on whether or not Osborne keeps his job.

Currently, the bookmakers give him 1/3 odds to remain in his position until the next general election. There are 9/4 odds that he will leave early. Bettors are less optimistic that the coalition government will remain intact. William Hill has placed 1/2 odds on them breaking up before January 2015. The coalition government as formed between David Cameron’s Conservative Party and Nick Clegg’s Liberal Democrats after the general election failed to give any of the three major parties an overall majority.

If the coalition government does split up, you can bet the bookmakers will have odds on what the new government will look like. Trust me; there are odds for everything.

In case you have been wondering, there are now official odds on the likelihood of Lady Gaga becoming President of the United States. No longer do we have to wonder. Next time someone scoffs and says “What are the odds on that?” you will actually have an answer. The odds are 100/1 that Lady Gaga will at some point in her life become President of the United States, according to bookmaker William Hill.

Novelty betting is nothing new. Any time a few guys get together and are doing some activity, at some point a wager will come up. “What do you want to bet I can hit that target from here?” “I bet you $20 I can get her phone number.” In recent years, proposition betting on novelties has become more popular at online bookmakers. The truth is, people like to bet, and not just on sports and casino games.

While sports betting is still the dominant category at online bookmakers, prop bets on things such as politics and popular culture draw the interest of those who aren’t sports fans. It has become popular to vote on things such as who will win Dancing with the Stars or who will win the Booker Prize for fiction. William Hill allows you to bet on whether or not it will snow on a given day. Almost anything can be bet on with one online bookmaker or another, including Lady Gaga’s odds of becoming POTUS. In case you’re wondering, the odds of Ms. Gaga becoming president in 2012 are 500/1. Barack Obama’s odds are even money, which seems a little optimistic, considering his abysmal approval rating.

You can expect online bookmakers to continue offering novelty bets and possibly adding more and more of them. Many insiders see that as an attempt to target women or others who are not interested in sports.

Okay, this much we know about online gambling in South Africa. The North Gauteng High Court says that online casinos are illegal. The Gauteng Gambling Board agrees and plans to have any violators arrested. Many online casinos, such as Piggs Peak, disagree and are appealing the decision. The GGB says that the country’s laws about online gambling are crystal clear while Piggs Peak says that they will resume online gambling operations in the country once the confusion is resolved. So obviously somebody is wrong.

Here’s another interesting variable, though. Online betting is perfectly legal there. As if to confuse things further, today Powerbet Gaming spoke up and reminded the world that their enterprises are completely legal and sanctioned by the government.

Powerbet Gaming released a statement that said that “there is considerable confusion among members of the public, banking institutions and the media regarding the legal position of online gambling and betting in South Africa.” Okay, I definitely agree so far. They then went on to say that the online gambling that is banned is online casino games. However, sports betting and online bookmaking “has been offered legally in South Africa for several years, within a well-established legal framework, and administered by provincial and national boards.”

The reason Powerbet wants to make it clear that online betting is legal in South Africa is that they are the parent company of Voltbet.com, an online betting site that is based in South Africa and licensed by the Western Cape Gambling and Racing Board. According to Powerbet Gaming, there is no legal ban on placing a bet with Voltbet or similar companies.

If you’re confused then that would put you in the majority. To me, the only thing that seems clear is that nothing is really clear. Isn’t government regulation and bureaucracy great?