President Trump’s odds of winning the presidential election against Democratic nominee Joe Biden took a hit after the first of three presidential debates, according to three analyses of the post-debate betting markets, even as the Trump campaign billed the president’s performance as “GREAT” in a Wednesday fundraising text message to supporters.

Pointing to a “substantial” 5 percentage point drop in Trump’s odds of winning, Election Betting Odds’s Maxim Lott told the Washington Examiner that the post-debate betting markets “show Trump as the clear debate loser.” Election Betting Odds shows Biden’s chances of winning at 60%, with Trump’s at 38.5%.