Biden Now an Overwhelming Favorite in the Betting Markets

[left-of-center2012]

Through much of Election Night, Trump was the favorite to win among betters as he took Florida, Ohio, and a number of other states that were believed to be in play for the general election. Action Network had the odds for Biden down to a 26 percent chance of winning at 10:00 p.m. on Tuesday night, but 12 hours later, the former vice president’s odds have jumped to an 83 percent high point while Trump’s have fallen to 17.

As of this writing, British bookmaker Betfair has Biden a sizable favorite, with Trump checking in as a nearly 4-1 underdog. This is a reversal from wee hours Wednesday morning, when Trump was a 3-1 favorite in many places. The betting aggregate site Oddschecker showed a similar trend in the odds, with most betting outfits showing the odds shortening for Biden but drifting for Trump.

https://www.mediaite.com/election-2020/biden-now-an-overwhelming-favorite-in-the-betting-markets-after-a-night-of-wild-odds-swings/

[BlueTsunami2018]

1. Vegas had Тяцмр at -500 last night.

It’s now Biden -350.

I was seriously going to lay some coin at the -500 number but refrained. I should go with my gut more often. Could have been the easiest $5000 I’ve ever made.

[onetexan]

2. A reversal of political fortunes for the Con &for Biden

[Poiuyt]

3. Bovado has Biden at -300 and Trump at +220

I don't understand the betting market and what those numbers mean, but I know it's a big improvement from yesterday.

[DrToast]

4. Biden -300 means...

...that if you have to bet $300 to win $100. You can also convert a moneyline to percentages. A moneyline of -300 implies a likelihood of victory of 75%.

[Poiuyt]

5. Thanks--that helps!

[Poiuyt]

6. So the +220 means if you bet $100, you'd get $220?

[DrToast]

7. Yep!

[Poiuyt]

8. Thanks!

Now that I'm a betting expert, I think I'll go to Vegas with my life savings.