President Trump and Democratic presidential nominee Joe Biden are just about dead even on top political betting sites, with several large-stake bets placed on the president’s victory since the Republican convention ended.
Three bets on Betfair Exchange over $13,362 were placed on Trump overnight, while the biggest stake of the campaign so far, $65,500, was placed on Trump over the weekend.
Trump’s odds reflect wagers placed on Betfair Exchange. Biden was heavily favored going into the Democratic Party’s convention.
“In August, Trump had the worst odds for reelection of any sitting President in history, and defeat to Biden was looking increasingly likely,” Betfair spokesman Darren Hughes said. “Trump’s remarkable comeback is complete.”
Betting exchange Smarkets showed Trump and Biden neck and neck for the first time since May despite Biden holding a 28-percentage-point lead over Trump this time last month.
“If our electoral college markets also start to move from their current prediction of a Democrat victory, things could be looking bleak for Biden,” Smarkets Head of Political Markets Sarbjit Bakhshi said.
A RealClearPolitics average of polls gave Biden a 6.3-point lead over Trump, with Biden at 48.9% to Trump’s 42.6%.
