2020 US Presidential Election Odds: UK Betting Exchanges Now Make Biden Strong Favorite

Most bookmakers have suspended betting on the Election, but the betting exchanges are still live and Biden has shortened in the odds to be the next President
Tom Dodd
Mon, October 5, 12:15 PM EDT

2020 US Presidential Election - Latest Odds

Following the first Presidential debate of 2020, the betting markets started to shift in favor of Joe Biden becoming the next President of the United States. Then, more drama hit this already incident-packed 2020 US Election; Donald Trump tested positive for COVID-19 and everything (including betting) was paused.

As mentioned, the betting markets with traditional bookmakers have been removed for the time being, however, across the pond, the betting goes on. UK betting exchanges have stayed ‘live’ since last week and we can report that Joe Biden has been very popular with bettors on the exchanges.

Trump’s odds prior to the announcement of testing positive for COVID were +138; put simply, an implied chance of 42.1%. Biden’s, by comparison, were up to -140 (58.34%) following the debates.

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However, these odds have gone further in Biden’s favor according to the exchanges. Joe Biden is now trading at odds of 1.49 – this is close to 1/2 in traditional UK odds or -204. In implied percentage terms, it’s 67.1%.

On the other hand, Donald Trump’s odds have pushed out further to 3.4 on the betting exchange. 3.4 is the equivalent of 29.4% percentage chance.  See the table below for the breakdown of odds and implied percentages.

Candidate

UK Betting Exchange Odds

US Odds

Implied Probability

Joe Biden

1.49

-204

67.1%

Donald Trump

3.4

+240

29.4%

Odds correct as of 10/05/20 and taken from Smarkets UK betting exchange.

What is a betting exchange?

A betting exchange allows bettors to wager against each other rather than a traditional bookmaker or sportsbook. All bettors can offer odds to, or request odds from, fellow bettors. The exchange makes money by taking a small commission on winnings.

Betting on the 2020 US Election - Are online betting markets and exchanges 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 on politics in the US. 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. OddsChecker is regularly used by global publications, including BBC News, Fox News, Washington Examiner plus many more.

Even though US residents can't bet on the US election, there are various events they can bet on including the Super Bowl, NBA Finals and MLB. All the major bookmakers are offering welcome offers to new players too, check out the bonuses you can claim here.

Follow OddsChecker on Twitter to get all the latest US election updates.

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