2020 US Presidential Election Odds: Bookmakers Pay Out On Bettors Who Backed Biden - Despite Election Not Being Decided Yet
2020 US Presidential Election Odds: Joe Biden has the best odds he's ever had
Votes continue to be counted in key battleground states in the US Election, but despite the fact that the race is far from over, some oddsmakers have seen enough and declared a Biden victory.
Australian oddsmakers SportsBet has announced that it will credit any bets placed on Joe Biden as ‘won’ and will pay the profits in full to any bettors who wagered on that outcome.
This has become a popular publicity tactic for oddsmakers in recent years on big events, most infamously in 2016 when Irish bookmaker Paddy Power paid out on a Clinton victory on Election night, only to then have to pay Donald Trump bettors as well just hours later.
At time of writing, however, SportsBet’s decision doesn’t look likely to come back to haunt them with Biden’s path to victory becoming increasingly clear. His current odds are set at -500, which imply a whopping 83.33% chance of victory.
Donald Trump, by comparison, is losing ground in the betting markets with each passing hour now and his price of +550 is indicative of just a 15.38% chance.
2020 US Presidential Election Odds
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2020 US Presidential Election Odds: What now?
There has now been considerably over $487M ($647M) staked across our bookmaker partners, making this event the most bet-on event in history, not just politics.
With the counting looking set to rumble for at least a few more hours, it’s not beyond the realms of possibility that we’ll see over £500M bet on The Betfair Exchange alone, which is one of the UK’s largest betting sites.
OddsChecker PR manager Pete Watt: “Whether Donald Trump wins or loses from here – and it’s looking increasingly like the latter - the competitiveness of the race deep into election night and the following days is a vindication of sorts for the betting markets, who for months have suggested that the election was closer than the majority of polls and forecasting models.”
2020 US Election: Betting On The Election
Good news! Online sports betting is legal in various states in the US. Bookmakers like DraftKings and FanDuel operate in these states! Click here to find the best betting offers from the biggest sportsbooks operating in your state.