Since announcing his candidacy, Michael Bloomberg has been in and amongst the leading pack and his ascent shows no signs of slowing, despite missing yet another debate in Iowa.
The eponymous founder of Bloomberg has now climbed to fourth-favorite to be the next President of the United States, according to oddsmakers.
This is despite the fact that the former mayor of New York – who is one of the ten wealthiest people in the country – has not appeared in a single official Democratic debate.
Just two months ago, Bloomberg’s odds of 100/1 – the same as the likes of George Clooney and Dwayne ‘The Rock’ Johnson – indicated he had less than a 1% chance of being elected President.
Today, however, some books have the philanthropist as short as 16/1 (+1600), which is an implied percentage of 6.67%.
The entrepreneur and philanthropist's entry into the Presidential race has excited bettors, with 16% of total bets in the last week on this market placed on the billionaire - only Trump has received more.
Apparantly building on the Andrew Yang template for Presidential candidacy, Bloomberg seems to be a more popular choice and there is no evidence that his rise in the market will slow any time soon, especially since the announcement was made officially.
He has become the fifth septuagenarian to do so after Warren, Trump, Biden and Sanders.