2020 US election odds: The money keeps on coming for Donald Trump
Despite 47% of UK bookmakers on the OddsChecker grids shortening the price for a Joe Biden win in the November election over the last 48-hours, the money keeps on flooding in for a Donald Trump victory.
Donald Trump has dominated US election betting since the market opened, with the majority of bettors expecting him to extend his stay at the White House. However, the number of bets placed on Joe Biden and Donald Trump has levelled out slightly this month. The percentage of bets for Donald Trump in the 2020 US Election market has dropped from 58% in August to 52% in September. Joe Biden's share has risen from 33.5% to 40% in the same time period.
However, the actually money being wagered on each of the candidates hasn't levelled out at all. As mentioned, Donald Trump has accounted for 52% of bets placed in September, but this equates to 80% of money wagered on the 2020 US election. Whereas, Joe Biden has only accounted for 18.6% of money wagered on the election.
This means despite a few more gamblers willing to back Joe Biden, more people are willing to wager higher funds on Donald Trump.
Donald Trump's US election odds imply that he's currently got a 45.5% chance of winning the election, which has decreased by 2.1% in the last couple of days.
US Election Odds and Betting
|UK Odds||US Odds||Implied Percentage Chance||% Of Bets Placed In September||% Of Money Wagered In September|
Why is this good news for Donald Trump?
There are various recent political events where the bookmakers favorite has lost the event but the majority of gamblers have come out as winners, which is the pattern the 2020 US Election is following.
The most obvious example of this was Donald Trump's 2016 US Election win. Hillary Clinton was the overwhelming favorite for the majority of the campaigning, and the odds implied she'd win comfortably. However, that obviously wasn't the case, which was good news for online bettors. Despite not being the betting favorite, Donald Trump accounted for 61% of bets placed on the 2016 US Election.
Another famous example of this political betting trend comes from across the pond. Online sportsbooks didn't see any chance the UK would actually leave the European Union a few years back. However, 73% of online bettors wagered that Brexit would go ahead, again they called this one correctly.
Again focusing on the UK, Boris Johnson being installed as the new Prime Minister was a example of not only online bettors predicting another political event, but also one the bookmakers called correctly. Boris Johnson was made the betting favorite as soon as Theresa May walked away from the position, and online bettors were quick to wager on Boris. Johnson accounted for 39% of bets in the next Prime Minister market, considerably more than any other candidate.
Finally, a more recent example. Kamala Harris was the long-time favorite to be named as Joe Biden's running mate. Just over 30% of all bets placed in the Democratic VP betting market were on Harris, someway ahead of the second most wagered candidate, Susan Rice who accounted for 12% of bets.
Are online betting markets reliable and a good source to use?
Online sports betting is legal in various states in the United States, however, unfortunately, you can’t legally bet politics. Our data is based on UK betting trends. Even though it’s the US election, it will be one of the biggest betting events not only in the UK but globally. Millions of users will be coming to OddsChecker to find out the odds ahead of the US election in the coming weeks. OddsChecker is regularly used by global publications, including BBC News, Fox News, Washington Examiner plus many more.
Even though you can’t legally bet on politics, US residents can still play Draftkings FREE $100,000 fantasy game, and try and predict the outcomes of various events to win the top prize. Click here to enter.