2020 Election Odds: Bookmakers Dramatically Cut Joe Biden's Odds
Joe Biden could become the clear favorite to win the 2020 US election in the coming days as UK bookmakers continue to cut his odds.
Apart from a couple of days in March, Donald Trump has been the long-time favorite in the US 2020 Election betting market. However, the current president of the United States is set to lose his place at the top of the market once again as UK bookmakers have Trump and Biden level pegging in the market. Both Biden and Trump can be backed at +100 (1/1) to win the US election.
Trump still has a 50% chance of winning the 2020 election according to the bookmakers. However, his chances are dwindling, as the odds in early March indicated Trump had a 60% chance.
The percentage chances are derived from the odds given by UK bookmakers. For example, Donald Trump has odds of 1/1 in the UK, which translates into +100 in the United States, and indicates an implied probability of 50%.
Joe Biden's 2020 election race looked over in February when his odds reached +4000 (40/1). However, he's since fought back to end Bernie Sanders election campaign and also draw level with Tump in the betting market.
Despite the bookmakers believing Joe Biden has a very realistic chance of winning the election, the UK betting patterns suggest that bettors still think Donald Trump is the one to beat. Donald Trump has accounted for just under 54% of all the bets placed on the market in April. Whereas Joe Biden has only had 25% of the support.
Bernie Sanders has dropped out of the 2020 Democratic race which has left only five people in the US election market with over a 1.5% chance of winning the election. As mentioned, Donald Trump and Joe Biden top the market, the other three are Mike Pence, Andrew Cuomo and Hillary Clinton.
2020 US Election Odds
Donald Trump +100 (1/1)
Joe Biden +100 (1/1)
Mike Pence +5000 (50/1)
Andrew Cuomo +5000 (50/1)
Hillary Clinton +6600 (66/1)