Trump vs. Harris: Election Betting Odds Rise for Former President
In a significant turn of events in the realm of election betting, former President Donald Trump has emerged as the frontrunner over Vice President Kamala Harris. Following a surge in wagers, Trump’s odds have shifted considerably, making him the biggest favorite for the 2024 presidential election.
Changing Odds
As of October 7, Trump was a slight favorite at -115, edging out Harris, who held similar odds. However, by October 11, Trump’s position strengthened to -130, indicating an increasing confidence from bettors in his chances. This upward trajectory continued, culminating in Trump being listed as high as -173 at Pinnacle Sportsbook, while Harris sat at +148, marking a clear shift in the betting market.
At BetOnline, another prominent offshore sportsbook, Trump’s odds reflect a similar story. Currently listed at -160, he appears to be solidifying his status as the favorite, while Harris is the underdog at +140. Notably, a remarkable influx of wagers has contributed to this momentum, with BetOnline reporting multiple bets on Trump exceeding $70,000 in recent days. BetOnline brand manager Dave Mason highlighted the impact of these large bets, stating, "We got peppered with a handful of 50K Trump bets."
Unprecedented Betting Volume
The election betting market is witnessing an unprecedented level of activity. BetOnline has already surpassed $10 million in its election betting handle—a figure that it predicts will exceed the total betting amounts for Super Bowl 58, scheduled for February. Mason expressed astonishment at the sheer volume of wagers, suggesting that it could potentially shatter the records set during the 2020 election cycle. This uptick in engagement not only reflects bettors’ interests but also mirrors larger trends in public sentiment and shifting political landscapes.
The Mechanics of Betting Odds
Understanding the odds is crucial for anyone venturing into the world of political betting. A negative number indicates how much must be wagered to win $100. For instance, at current odds of -160 for Trump, a bettor would need to place $160 to secure a profit of $100. Conversely, a positive number signals potential earnings on a $100 wager. This means that with Harris as a +140 underdog, a $100 bet on her would yield a profit of $140 if she were to win the election.
Comparative Odds Across Platforms
Different platforms offer slightly varying odds, reflecting the diverse expectations of bettors. At DraftKings in Ontario, Canada, Trump is favored at -165 while Harris is listed as a +135 underdog. On electionbettingodds.com, an aggregator of live odds, Trump’s likelihood of winning sits at 57%—translating to -133—while Harris is given a 42.1% chance, around +138.
Legal Landscape and Political Betting
It’s important to note that betting on political outcomes is currently not permitted at regulated U.S. sportsbooks. This restriction necessitates that bettors turn to offshore platforms where such betting is allowed, further fueling the allure and engagement of political wagering among enthusiasts.
Conclusion
With the 2024 presidential election still looming, the landscape of betting odds is shifting dramatically. The rising stakes in favor of Donald Trump reflect both bettors’ confidence and the volatile nature of political campaigns. As public interests evolve and the election date approaches, it remains to be seen how these odds will shift further, making this election cycle one of the most closely watched and bet on in recent history.
For those interested in the intersection of politics and sports betting, the current state of play presents both excitement and opportunity. As always, caution is advised for those looking to wager on electoral outcomes, and understanding the intricacies of betting odds is critical for informed decision-making.
For more insights into the betting world and updates on the election, you can follow the conversation with reporter Todd Dewey on X (@tdewey33).
