The popularity of Joe Biden appears to be at an all-time high this week, after betting exchanges showed that the Democratic candidate has a 2-in-3 chance (66 percent) of winning next month’s presidency.
Biden’s probability of victory in the US 2020 elections is currently double that of Donald Trump’s (33 percent) chances of a second term, according to Smarkets.
Sarbjit Bakhshi, Head of Political Markets at Smarkets, commented: “Following a tumultuous first presidential debate last week, the VP debate was eagerly anticipated as an insight into what a second Trump administration or a Biden-Harris one could bring.
“The performances of both candidates last night were in line with expectations and produced no definitive movement at the end of an intense few days of trading on our $10m Next President market.
“However, Biden remains clearly in front and is twice as likely as Trump to win the election in less than four weeks’ time, holding a 2-in-3 chance of victory.
“Aggregating our state-by-state markets, Biden’s predicted Electoral College votes have risen to 324 against Trump’s 214, with the Democratic challenger now favoured once again in the key swing state of Florida. With more and more of our markets suggesting a Biden victory is increasingly likely, his return to the White House looks arguably more assured than ever.”
Although bettors showed a hint of faith in the current president following his discharge from the hospital earlier this week, after POTUS’s first debate with Biden earlier in the week, there still appears to be some residual apprehension in the betting markets.
The Electoral College forecast by Smarkets showed that Biden had risen to an estimated 324 electoral votes, winning a strong majority over Trump’s 214.
Additionally, in the main swing state of Florida, the former VP is now the favourite for success.
Bakhshi added: “With more and more of our markets suggesting a Biden victory is increasingly likely, his return to the White House looks arguably more assured than ever.”