Less than a month ago. Joe Biden’s campaign for the US Presidency looked to be dead in the water. Soon, Biden may be the frontrunner in the 2020 race for the White House
Incumbent Republican Donald Trump and Democratic frontrunner Joe Biden and in a virtual dead heat in the 2020 US Presidential election odds with less seven months left until Americans go to the polls on Nov. 3rd.
William Hill lists Trump as the ever so slight favorite to win the Presidency at +100. Biden is right there with him at odds of +110. In a reversal of fortune, a separate prop wager on the 2020 US election has Biden’s Democrats as the odds-on -120 favorites to win. Trump’s Republicans are given a betting line of +100.
His campaign floundering through the first two Democratic primaries, as recently as Feb. 24th Biden’s odds to be the next US President were as high as +6000. But a convincing series of primary wins by the former Vice-President during the month of March have made it a virtual certainty he’ll be the nominee for the Democrats.
Meanwhile, the onset of the coronavirus has plagued the US economy. Experts on the subject insist there’s a 91% chance of a recession hitting the USA this year. Nothing dooms an incumbent’s chances of re-election more than a slumping economy.
Donald Trump's surprise win in the US presidential election cost Paddy Power Betfair nearly £5m, the bookmaker has said. pic.twitter.com/FbliYODzYK— Capital Moments (@CapitalMoments) January 23, 2017
It’s expected that more than $100 million will be wagered in the United Kingdom on the 2020 US Election.
In 2016, Americans wagered a record $130 on the race between Trump and Hillary Clinton. That was a dramatic increase from $50 million bet in 2012 on the Presidential election between Barack Obama and Mitt Romney.
UK public also predicts recession by the end of the year (according to the betting markets), probability is 91%, 40+% since November 2019.