Joe Biden’s Chances Drop as Support for Donald Trump Grows

With just a few days remaining until Americans head to the polls, the latest betting data favors Trump as Biden’s chances continue to drop. However, the latter remains the sportsbooks favorite to win the presidential election.

At the beginning of this week, Sportsbooks showed that the former US vice president started with a 69.2 percent chance of becoming the next US president. However, he has lost the grip slightly on bettors as the week nears its end.

It will come as no surprise if the Democrats aren’t bothered over the movement as their candidate remains the undisputed betting favorite. Nevertheless, the latest US Presidential Election odds suggest a drop in his chances of carrying the day to 64.5 percent. His chances have dropped by around 5 percent within this week.

Several bookmakers in the US have cut Trump’s betting odds again in the last two days, but the best price remains +188. The odds imply a 34.8 percent chance. The best price for Biden on the market by yesterday was -182, which implies a 64.5 percent chance.

Betting Update on 2020 US Election

Last week, the current US president was receiving 2 for each bet that the former vice president was taking. The same trend has also continued throughout this week. Of all the wagers placed within the last two days in the US Presidential Election, 65 percent are on Donald Trump, while those placed on Joe Biden accounted for only 31 percent of all the bets.

Interestingly, the Democratic Party candidate has accounted for a massive 81 percent of the total money wagered within the same period on the US election. This shows the majority of people betting on the 2020 election believe that Trump will be given another four years in office, but the people who are wagering huge amounts of money think that Joe Biden will win.

Swing US States Betting

The 2020 US Presidential Election could be lost or won in just a few key swing US States. The states that are likely to be most crucial are Florida, Georgia, and Pennsylvania. In the last few days, some fascinating movements have been witnessed on how bettors are placing their bets on who will win on these key battlegrounds.

Joe Biden is the firm favorite in Pennsylvania State at 1/2. However, oddsmakers think that Republicans still have a chance. According to the polls, Bidden is currently leading with seven points, but betting firms and bettors have not lost hope in Trump yet. Trump has taken at least 60 percent of the total bets in the market within the last 48 hours.

According to some betting experts, Pennsylvania is the most crucial state although Florida remains the most famous state. Their focus is shifting from Florida because it appears like it will be a 50/50 contest.

However, it looks like Trump has to win Pennsylvania for him to win Electoral College votes. This is because of the big correlation that exists between Pennsylvania, Michigan, and Wisconsin. Of all the three, the experts regard Pennsylvania to be the hardest state to win. According to the polls, Joe Biden is currently ahead of Trump in all these 3 states. If he beats Trump in all these key states and wins Clinton states, he will likely win.

Final Remarks

The dominance of Joe Biden in the betting industry is not discouraging online bettors from betting on the current US President, Donald Trump. Given the most recent online polls, it may not be surprising that the overwhelming preferred candidate to win the US 2020 Presidential Election is Joe Biden. However, what online bettors are doing sharply contradicts the opinions and predictions of oddsmakers. The three swing states will be crucial in determining who’ll sit on the presidential palace.

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Rebecca
Rebecca lives in Las Vegas and after completing her degree at Reynolds Journalism school joined the USGS team to pursue her journalism dreams.