Today is the day. Americans are casting their votes in the 2018 midterm election.
After the votes have been cast, this midterm election is predicted to be the most expensive in U.S. history. The expected total spend of $5 billion.
As Election Day approached, both sides frantically did what they could to win Senate seats.
With 32 U.S. senators up for re-election the race to keep their seat was fierce.
Winning the Senate has never been cheap. If we look back at 2014 the average victorious Senate campaign spend was at least $10.6 million. But the stakes and raises are at record highs for the 2018 midterm election.
The Democrats have raised more than $1.3 billion from individual donors and Republicans have raised just under $1 billion. So money wise not that far of a race overall.
The biggest raise has been by Beto O’Rourke, Texas Democrat candidate, who raised $70.4 million since March 2017. Current Republican Sen Ted Cruz has spent $40 million since the beginning of his election cycle in 2013.
Overall, the Cruz-O’Rourke contest has topped $100 million, making it the most expensive Senate race in U.S. history, with Cruz leading O’Rourke during the race.
One factor that determines the spend is the size of the voting age population in each of the politician’s state.
Money raised goes into ads, which are important as Election Day approaches. These ads are typically on TV, radio, mail and digital opportunities throughout the 2018 midterm election.
To be successful you have to be on the air constantly or risk being overshadowed by your opponent.
Another factor that comes into play is independent expenditures. This round has been dominated by money from outside groups. Most of the money has come from committees and super Political Action Committees (PACs), who are linked to the party and its leadership.
Spending copious amounts of money still doesn’t guarantee the Senator a win in the 2018 midterm election.
For instance, look at Gov. Jeb Bush, who in the 2016 presidential campaign after a $130 million spend failed badly.
Spending money doesn’t guarantee you a win, but not spending money guarantees you will lose.
A candidate does not have to spend the whole raise, but law dictates that any leftover money is to be transferred into their presidential campaign.
Republicans are expected to hold the Senate, which will be determined shortly.
Even though this is not a Presidential election, it does give us a few prospects to keep an eye on for the 2020 Presidential election.