The top-rated online sportsbook’s latest betting odds signal a steeper shift in favor of Democratic Party. This shift pertains to betting odds to win the 2020 Presidential Election. It also pertains to control of the House and Senate in other available betting props. Now, lets discuss how the online betting odds for total political control of Washington DC are shifting toward the democrats.
Why Are The Online Betting Odds For Total Political Control Of Washington DC Shifting Towards Democrats?
The numbers speak for themselves. Joe Biden was Barrack Obama’s vice president during his two-term run. He is now the Democrat’s nominee for president in this November’s election. His current betting odds to win have been boosted to -140 on the top online betting sites board. The Republican incumbent, Donald Trump is the clear underdog at +120. Last week at this time, the numbers were much closer (Biden -120 vs. Trump +105).
That is not the only bad news for the Republican Party. Betting odds for their chance to regain control of the House are not even on the board. Once favored retaining control of the Senate, those odds pin the Republicans as even-money underdogs. The odds now favor the Democrats at -130 to take over the majority in that branch of the government.
With Former Vice President Joe Biden favored to become the next president, his party are -125 favorites to also control the House and Senate.
The tide has been slowly turning this way since Biden’s early success in this year’s state primaries. As the coronavirus became the major topic of discussion in mid-March, that pace quickened a bit. Trump’s dismal approval rating for his handling the global pandemic did not help his cause.
Another contributing factor to this major shift was Trump’s response to the protests surrounding the death of George Floyd. His stance against the protestors cost him some more ground.
Trump’s failed political rally in Tulsa this past Saturday could be impacting the odds this week. It now appears that the hole he has dug for himself is getting deeper by the day. New presidential polls have widened Biden’s lead to 14 points. This is a substantial lead in terms of the actual gap in the numbers.
When it comes to betting any type of futures odds or prop odds, momentum can be a huge factor. The public’s perception can also cause a major shift in the numbers. The main thing bettors look for is where is the new money going.
Every online sportsbook will try and balance out the money bet on either side of a wager. The book’s goal is to make its money on the 10 percent commission (or juice) collected on the losing end. This week’s change in the political prop bet odds signals that all the new money is going towards Biden. New money may also be coming in on the Democrats’ chance to control both the House and Senate following November’s general election.
Things are moving fast with a little more than fourth months left on the campaign trail. Trump could still rebound to save his political future. That, in turn, could keep the Republicans in control of the Senate. However, nobody seems to be betting on it.
