Joe Biden's announcement that he will not be running in the Presidential election has dramatically reshaped the betting markets.
Joe Biden announced last night that he would not be running for a second term in the upcoming presidential election, turning the US election landscape on its head with just under four months before the nation takes to the polls.
Despite his previous insistence that he was the right man for the job and his readiness to face Donald Trump in a rematch of the 2020 election, the 81-year-old has succumbed to pressure from fellow Democrats.
Concerns surrounding his health and ability to serve the country have been mounting, leading to calls for him to step down.
Speculation about his fitness to run for re-election peaked after a series of recent missteps, including referring to Vice-President Kamala Harris as "Vice-President Trump" and a disastrous debate performance.
With Biden out of the picture, the Democrats now need to nominate a new candidate to face the Republican contender, Donald Trump, in the upcoming election.
Click here to read more about the most likely Democrat nominee to replace Biden.
As the US election enters unchartered waters, lets take a look at how the odds for the presidential election have been effected by this news.
Next US President Odds
| Candidate | Best Odds | Implied Probability | Bookmaker |
|---|---|---|---|
| Donald Trump | 8/15 | 65% | Sky Bet |
| Kamala Harris | 9/4 | 31% | Betway |
| Michelle Obama | 20/1 | 5% | Sky Bet |
| Robert Kennedy Jr. | 66/1 | 1.5% | Ladbrokes |
Who is the favourite to win the US Presidential Election?
Donald Trump remains the favorite to win the upcoming presidential election, with Sky Bet offering the best odds at 8/15.
Interestingly, news of President Biden's decision not to run for re-election has not affected Trump's odds, which have remained steady.
Since the announcement last night, Trump has garnered 43% of all bets placed through oddschecker on the potential next US President.
Reacting to the news, Trump stated that Biden should never have run in the first place. His newly appointed running mate, JD Vance, expressed confidence that they are prepared to defeat whoever tops the Democratic ticket.
However, the Republicans will need to adopt a new strategy. Their previous approach of portraying Trump as a strong leader compared to a weak Joe Biden has now been upended by Biden's decision to step aside.
Back Trump to win the Presidential Election directly through oddschecker at a guaranteed best price here.
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Vice-President Kamala Harris is the resounding favorite to be the Democratic candidate for the election, with the best odds of 1/8 at Sky Bet.
Her chances received a significant boost when Biden endorsed her to take on this responsibility, calling his decision to make her vice president four years ago the best he ever made.
She is also the clear second favorite to win the presidential election, with the best odds of 9/4 at Betway.
As the next in the constitutional line of succession and with Biden's backing, Kamala Harris appears to be the person for the job.
However, she will need to turn around her poor approval ratings and perform better in head-to-head debates with Trump, if she wants a shot at winning in November.
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