86% of Bets on Trump Last 24 Hours, New Favorite
The political gambling markets have flipped the election odds once again.
Over the last 24 hours, President Trump has received 86 percent of the Presidential Election bets, according to one online bookmaker, which prompted a change in the odds.
2020 Election Odds
Joe Biden 1/1
Donald Trump 5/6
(Implied probability for Trump to be reelected is 54.6%)
This marks the first time since late May that Trump is the odds-on favorite.
One week ago, Trump was listed with 1/1 odds while Biden was the favorite at 5/6. Three weeks ago, Trump was an even larger underdog at 7/5 odds, and he was as high as 8/5 a little over a month ago.
Explanation of odds: Trump is 5/6 or -120, meaning a bettor would risk $12 to return $10. Biden is 1/1 or +100, meaning a bettor would risk $10 to return $10.
