- President Trump is -120 favorite at BetOnline
- Trump and Joe Biden are both -110 at Bovada
- We are 63 days away from the November 3 presidential election
The saying goes “no news is good news,” but that doesn’t apply to the Democratic presidential nominee when engaged in a hotly contested election race. So, when Joe Biden’s campaign announced a “lid” – press-speak for no more news and events the rest of the day – just after nine this morning, that was terrible news as idle minds began to wonder what was wrong. Perhaps this radio silence opened the door for money to pour into online sportsbooks and wager on the incumbent. For the first time in nearly three months, President Donald Trump is once again the favorite to win the 2020 U.S. election at -120 (54.55% implied probability) at BetOnline sportsbook. He’s also in a virtual odds tie with Biden, at -110 each or 52.38% implied probability, at Bovada.
|2020 U.S. Election Betting Odds||Online Sportsbook (9/1/20)||Online Sportsbook (9/1/20)|
In case you missed it, we recently published an exclusive 2020 U.S. election betting guide that highlights how Trump and Biden’s odds have fluctuated over the past year. As you can see below, Trump’s fumbled coronavirus action plan opened a door for Biden to snatch the odds lead back in early-June. That lead evaporated quickly over the past 5-7 days.
In fact, we recently highlighted in another 2020 election odds feature story that 60% of bets wagered on the 2020 U.S. election have backed President Trump. So, while polling indicated a heavy lead for challenger Biden, sportsbooks saw more action on the incumbent. Granted, we aren’t sure WHEN the bulk of that money came in on President Trump. A large share of bets could have been placed before the pandemic spread and economies were locked down back in mid-March. All we know now, is that that polling data leans Biden, while live election odds prefer Trump.
Sounds a lot like 2016 all over again.
In the lead up to November 3, Gamble Online will have weekly 2020 U.S. election betting coverage with the latest polling news and updated odds. If you’re interested in learning more about how to bet on the 2020 United States election or are interested in learning more about the online sportsbooks that offer political futures odds and prop bets, be sure to check out our new expert 2020 election guide.