Washington, October 24: Following the second presidential debate, the prospects of President Donald Trump has shown resurgence in the betting market. Most of the fresh wagers were based on the assessment of his victory in the past 24 hours, said Cloudbet, an online platform for betting and casino games. Highlights of The Final Trump vs Biden Debate.
Even as Democratic Party's Joe Biden continues to hold the edge, the odds of Trump moved swiftly after what pundits described as his "impressive" showing in the debate against Biden. The crypto sportsbook increased the odds in favour of Trump by 2.6 (or 160 in terms of conventional betting market).
The increased number, in terms of simpler units, predicts a 38 percent chance of Trump's reelection -- higher than 36 percent ahead of the debate. The numbers are expected to further improve as November 3 nears.
Biden, who still continues to hold the edge with oddsmakers suggesting a 61.5 percent chance of his winning, faced a marginal decline following the debate on Thursday night. His odds drifted downwards by 1.54 (-185).
Thousands of fresh wagers registered following the debate were in favour of Trump. The total betting amount placed in the past 24 hours, though mostly in favour of Trump, amount to 5 percent of the total bets placed so far.
Even as the quantum of total bets in favour of Trump are lower as compared to Biden, the recent numbers may indicate a shift in the electoral mood. According to Cloudbet, 94 percent of the bets placed in the last seven days were in favour of Trump.
The phenomenon, claim some oddsmakers, is similar to 2016 when Hillary Clinton led all the way at the betting market except for a deceleration she faced in the final dew days leading to the polls. Despite the odds then suggesting that Clinton would comfortably prevail over Trump, it was the latter who pulled a shock victory. Will history be repeated? The answer will be out in first week of November.
(The above story first appeared on LatestLY on Oct 24, 2020 06:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).