2024 Presidential Election Odds: Donald Trump's Odds to Win Improve Following January 6th Hearing

2024 Presidential Election Odds: Donald Trump's Odds to Win Slashed Following January 6th Hearing

The 2024 presidential election will be here before you know it. And, despite the fact that he lost in 2020, Donald Trump doesn't seem to be going anywhere anytime soon.

So much so that, according to the latest 2024 presidential election odds, Donald Trump is still the favorite. As a matter of fact, he's been the favorite for quite some time.

But, just as it appeared as though he had lost some steam, it looks like the January 6 hearings have somehow brought the former President of the United States some momentum when it comes to 2024 presidential election odds.

So, what does this mean foe 2024? What does it mean for future 2024 presidential election odds? Who will be the next President of the United States. Let's take a look at the odds to find out.

Click here for the very best sportsbook promos you can find in your state

2024 Presidential Election Odds

Click here for the latest 2024 presidential election odds

Donald Trump has been the favorite to win the 2024 presidential election for months. However, Trump's odds had been worsening in recent months, but, the January 6 hearing seems to have changed all of that.

On April 20, Trump was given +300 odds to win the 2024 election. By May 10, those odds had lengthened to +400. Trump was still the favorite, but his lead was shrinking. After last night’s hearing, Trump’s 2024 presidential election odds have been cut to as low as +225, or an implied 30.8% chance to win the presidency.

His worst 2024 presidential election odds are now +295, or an implied 25.3% chance. To put that into perspective, at +400 Trump had a 20% chance. Meaning, even the most pessimistic oddsmakers are saying the hearing boosted Trump’s odds of winning the presidency by at least 5%.

2024 Presidential Election Odds - Recent Betting Trends

It's not just oddsmakers who feel this way. Over the last 24 hours, 48.9% of bets have been placed on Trump to win the 2024 presidential election. If not Trump, bettors are backing Florida Governor Ron DeSantis who’s garnered 17% of bets. Meanwhile, Joe Biden has seen just 8.5% of bets placed on him to win reelection in the 2024 presidential election odds market. The next most popular Democrat on the betting market? Dwayne “The Rock” Johnson with 4.3% of bets.

While some may see the January 6 hearings as damning evidence of an attempted coup by a sitting president, others see it as an attempt to distract from rising inflation. Oddsmakers don’t like that look for the Democratic party, especially as Joe Biden’s approval rating hits a new low of 39%. To put that into perspective, Donald Trump’s approval at this point in his wildly unpopular presidency was 45%. If anything, foreign oddsmakers and bettors simply see the fact that Trump is still in the news as great for the former president’s electoral chances.