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Gamblers Bet the Farm on Joe

Written by:
Gilbert Horowitz
Published on:
Oct/12/2020

So many bets are coming in on the former US Vice President Joe Biden becoming the next President.  He's now the biggest favorite yet at -220 to win the Electoral College and -650 to win the popular vote.

In European markets alone, over $150 million has been staked, and the bets are going more than 2-to-1 for Biden.

The odds aggregator site Oddschecker.com spokesperson Pete Watt says Biden has a 69.25% chance of victory compared to the sitting President Donald Trump’s 33.33%.

But, in noting that money is still going to Trump, he added, “The gap between Trump and Biden in the betting markets is getting closer in size to the one that has existed in the polls for months, but Biden’s fondness for a gaffe coupled with the learnings of 2016 suggest that to write off the president would be to do so at your peril.”

Gamblers haven't given up on Trump just yet.

Oddschecker observed that just under 59% of bets on the 2020 US election this past weekend have been on Trump winning next months election. In the same time period, Joe Biden has accounted for just 35% of bets on the 2020 US election.

- Gilbert Horowitz, Gambling911.com

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