Betting on the presidential election between Joe Biden and Donald Trump continues to take some twists and turns. With just two months to go before the election, this race is now a toss-up. Using the updated betting odds at Bovada online sportsbook, the recent Republican Convention helped close the gap. Earlier this week, we reported on how Sheldon Adelson allegedly may be backing Trump for his 2020 Presidential Re-election.
What Are The Online Political Betting Odds Between Joe Biden And Donald Trump?
Joe Biden’s substantial lead that carried through the summer has quickly disappeared. His odds to become the next president are set at -110. Trump now has the same -110 odds to win a second term.
Interestingly enough, US sportsbooks still offers betting options for six other people not even in this race.
Hillary Clinton leads that list at +5000 odds. Vice President Mike Pence is next at +8000 followed by Kanye West at +10000. Also listed at +10000 is Michelle Obama. New York Gov. Andrew Cuomo and Nikki Haley round out the list at +15000.
Also puzzling is US Sportsbooks props for Biden or Trump dropping out of the race prior to Nov. 1. With both men in their 70’s, I guess anything could happen from a health standpoint.
The odds Biden withdrawals from the race are set at +400 for YES and -650 of NO. The odds that Trump drops out are set at +600 for YES and -1200 for NO.
The Republicans were able to pick up some steam following their party’s convention. Trump used his standing to broadcast speeches from the White House. Despite the convention taking place virtually, he did use his influence to gain more exposure.
Books change the odds for any bet based on the money coming in. Their goal is to balance out the money on either side of the outcome. Since they collect a 10 percent commissions (or juice) on every losing bet, a balanced board guarantees a positive return.
Betting props also weigh heavily on perception. If more bettors got on the Trump bandwagon the past week or so, more are likely to follow. Biden now offers his best betting value since taking over the frontrunner position.
Calling this race is an inexact science to begin with. Adding in the futures aspect of these odds, and there is even more guesswork at play. Anything can still happen, one way or the other, with two months left in this race.
One interesting prop that still heavily favors the Democrats is the popular vote. Presidential elections are ultimately decided by the electoral vote. As flawed as this system is, neither party has ever made a strong move to dismantle it. This means that a candidate can win the majority of the votes cast and still lose.
US Sportsbooks updated odds covering the popular vote favors the Democrats are -400. The party was a much bigger favorite over the summer. However, the heavy odds still suggest it will win. The odds that the Republicans will win the popular vote are now +275.
