Presidential Election Betting News

The US 2020 Presidential election has recorded a total amount of over 82 million ballots. This year’s election is seeing a record-breaking amount of voters turnout playing out, with Texas having a total early voter turnout of 95% of the 2016 election. Key battleground states, North Carolina recording a total early vote of 81%, Arizona currently at 80%, Florida at 70%, Michigan at 50%, Wisconsin with 55%, and Pennsylvania at 34%.

Reports from Target Early suggests that Joe Biden is in the lead in Arizona with 47.2%, and Trump is closely behind with 46.4%. It was also a close margin in North Carolina, with Biden with a 48% lead and Trump at 45.6%, and Wisconsin, with Biden at 39.8% and Trump at 37.6%. In Florida, Biden is currently on a 47% lead, and Trump at 46.2%, Biden is also in the lead in Michigan with 42.6%, and Trump at 38.4%. Pennsylvania showed Joe Biden with a massive lead over Trump with a 26% margin, Biden has 63.6%, and Trump at 28.9%.

Biden Remains Favorite

Across betting sites, Joe Biden is predicted to be the winner of the US 2020 Presidential election as opposed to Trump. Biden’s odds took a slight reduction from -195 to -190, while Trump’s odds now sit at +165 from +160.

The Democratic candidate, Joe Biden, is currently leading the Republican candidate, Donald Trump, in the national polls, and frankly has been for a while as the election day of the 2020 presidential election approaches despite the slight fall in the wake of the US presidential debate. Trump trails by about eight points, while Biden has just a little over half of Americans on his side according to the 10-poll average.

If the state polls are anything to go by, it suggests that Biden is leading in at least six swing states – Florida, Wisconsin, North Carolina, Michigan, Pennsylvania, and Arizona, which has been known to be more likely to swing towards the Republican party for some years.

While four out of the six swing states – Arizona, Florida, North Carolina, Wisconsin, are close calls with a very little margin between both candidates, Biden has a good lead in Michigan and a huge margin in Pennsylvania.

Trump the Underdog

On Tuesday, the 3rd of November, Americans will take to the polls to elect their 46th president into the White House or extend the 45th president’s tenure by another four years. While Trump is the underdog in this election, it is imperative to note he has been here before. In the 2016 election, he was also the underdog with him losing the popular vote to Hilary Clinton, but ended up being victorious regardless. With this in mind, Trump can not be written off as the mantle can fall either way.

In the 2016 election, Iowa, Ohio, Pennsylvania, and Florida all swung to Donald Trump’s direction away from the Democrat, Hilary Clinton, contrary to the polls. For Trump to win the 2020 presidential election and retain his presidency, a repeat of 2016 has to happen alongside holding Texas down.

Texas could be pivotal to him winning, as Texans have leaned towards the Republican party in every election since the year 2000.

Reactions from the Betting Market

The US 2020 presidential election has been pegged the biggest betting market in most betting site’s history. Betfair has recorded over $260 million wagered on US presidential election betting, trumping the previous record set by the 2016 election, which saw about $240 million staked on the possibility of either Donald Trump or Hilary Clinton becoming the 45th President of the United States of America. With this current election betting total matching and surpassing the past election, Betfair is confident the $400 million mark could be attained with barely 3 days left to the election day.

A Betfair spokesman said that while Joe Biden is the current favorite to win the election, 60% of the total money staked has been wagered on Donald Trump. He went on to say that this election has been prone to huge swings in the betting market, stating that far back in February, Joe Biden’s chances of winning the election and becoming the next US President was one in a hundred, but as months passed on, the odds shifted highly in his favor. With his odds being a 60 percent chance in August, he has, however, lost grounds since then, and now it too much of a tight call.

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Jackson
Our in-house expert for all things regulation, Jackson covers all major recent developments across US states relating to gambling laws & legislation.