The money is pouring in for Trump, with the POTUS now having a 44% chance of winning the 2020 US Election according to the odds
2020 US Election Odds
According to the odds, Donald Trump's chances of winning the 2020 US election greatly improved over the last week. Online punters rushed to back Donald Trump following allegations over Joe Biden's links in Ukraine earlier in the week, and Trump's momentum has continued to build ever since.
Every single sportsbook on oddschecker cut the odds of Donald Trump winning the 2020 US election over the weekend. The President's odds of winning the election were 15/8 on Wednesday, which implied he had a 34.8% chance of being victorious. However, the odds on Donald Trump winning the election are as short as 5/4, which implies his chances have grown to 44%.
Joe Biden's still the bookmakers favourite to win the 2020 election, however, his odds have drifted from 1/2 on Wednesday out to 7/1, which is an imprlied probability of 58%.
2020 US Election Odds
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2020 Presidential Election Betting
Even though Donald Trump's odds have rapidly improved over the last week or so, the bookmakers still think Joe Biden is the likely election winner. However, this isn't the case among oddschecker users.
In the last seven days, a massive 68% of all money wagered on the election has been placed on Donald Trump. Just 29% has been wagered on Joe Biden in the same time period, and a few smaller bets on Kamala Harris, Mike Pence and even Kayne West make up the final 3%.
The 2020 election is following a very similar trend to the 2016 election which saw Donald Trump upset the odds when defeating Hillary Clinton. Both the betting market and polls had Hillary Clinton as the overwhelming favourite heading into the 2016 election, however, 61% of all bets on the election were placed on Donald Trump.
On the 12th October 2016, Donald Trump's 2016 election odds implied he only had a 19.1% chance of defeating Hillary Clinton. Therefore, according to the bookmakers, Trump is in a much better situation this time round.
We've witnessed this pattern occur on a number of big political events. Remember when the UK left the European Union? Nobody thought this would happen, and the bookmakers had Remain as a huge favourite, however, online punters disagreed. Just over 73% of all wagers were placed on the UK leaving the European Union.
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