A tumultuous week of US political drama saw the Betfair Exchange shorten the odds of Donald Trump retaining his presidency, selling odds at an all-time low of 8/11.
Betfair Politics reports that Trump has gained from the Senate’s acquittal, which has declined to support the US 45th President’s impeachment hearings on suspected abuse of Ukraine assets.
Trump gains follow a catastrophic week for the Democratic Party, where the crucial Iowa Caucus, the legacy bell-weather for the party presidential nominee, was unable to declare a victor on Tuesday morning due to candidate nominations registering ‘app failures.’
The contested outcome of Iowa would declare South Bend Indiana’s Vermont Senator Bernie Sanders and Pete Buttigieg Mayor a joint winner, as a hostile Democratic Party race steps onto its New Hampshire Primary scheduled for 11 February.
Currently, the Betfair Exchange keeps Bernie Sanders cutting odds at 11/2, making him the clear second favourite, but Iowa’s results showed Pete Buttigieg’s odds continued to shorten to 16/1, priced two weeks ago at 39/1 and last year at 999/1.
Sam Rosbottom, the Betfair spokesperson said: “So far over £11,000,000 has been bet on who will be the next President of the United States, with odds on Donald Trump to be re-elected later this year now at the shortest they have been on the Betfair Exchange, he is 8/11 to be voted in for a second term following his speech to Congress.
Rosbottom adds “Despite Trump leading the way, the race to be the Democratic candidate to take him on is heating up and there is now a clear second favourite for the 2020 US Presidential Election, with the punters backing Bernie Sanders’ into 11/2 from 49/1 last year.”