By Tony Winterburn • 04 November 2020 • 8:05
Donald Trump Odds-On Favourite to Win US Election.
Bookies and gamblers abandoned Joe Biden overnight and make Donald Trump the odds-on favourite to win US election after he performed better than pollsters predicted in early results. Donald Trump has emerged odds-on favourite to win the US election as gamblers placed a flurry of bets on the President.
Trump was favourite at 4/5 early Wednesday, according to aggregate site Oddschecker, versus Joe Biden at 5/4. Biden was way ahead before the polls closed at 1/2, but that lead quickly fell away as results rolled in showing Trump had out-performed the polls- just as he did in 2016.
The 2016 presidential election saw a record number of people place bets on the myriad of outcomes, as €258m was spent gambling on the contest between Mr Trump and Hillary Clinton on Betfair Exchange. However, by Monday 26 October, the betting service had already received €215m placed on the election and was predicted to see €400m by 3 November.
Betting ahead of election day had largely gone with pollsters, who predicted Joe Biden as the likely victor. But as early results started coming in, the narrative flipped as it appeared Trump had out-performed his polls – just like he did in 2016.
Wins in the swing states of Ohio and Florida for Trump took the option of an early, easy win off the table for the Democrats. But later on, Biden flipped the state of Arizona, keeping him in the race, and won the key rust belt state of Minnesota.
In a press release, Betfair spokesperson Sam Rosbottom said: “The 2020 election is on course to become the biggest single betting event of all time.”
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