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Brit bookies swamped with bets on Donald Trump as $1billion gambled on election
November 1, 2020
Brit punters have a stand-out favourite when it comes to Tuesday's election across the Atlantic – and against all odds we're mostly chucking money on Donald Trump to hold onto the White House.
Americans will head to the polls on November 3 to cast their votes for either incumbent Republican president Donald Trump or Democrat challenger Joe Biden.
Biden is the favourite to take the top job with polls in America giving him as much as an 8-point lead.
But it appears us Brits don't think much of the pollsters, with around 70% of all bets placed with leading UK bookmaker Coral backing the sitting president to hold on to the Oval Office.
"We have already taken nearly twice as many bets as we did in 2016 and it will eclipse any of the recent UK General Elections by the time it’s over," Coral spokesman Harry Aitkenhead told the Daily Star Online.
"The interest is definitely huge from UK punters. It's hard to pinpoint one exact the reason for this, perhaps mostly just due to the world situation and how politically charged things are the moment, who knows…
"Trump is still the subject of about 70% of total bets from our punters, despite being the outsider in the market.
"This explains why the betting gives him a 38% chance, but the polls much less. So it means if Trump were to win, despite not being the favourite it would be a bad result for the bookies. "
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Coral makes Joe Biden odds on, at 1-2, to win the US Election and replace Donald Trump as President of the US.
Trump is 13-8 to win a second term in office.
"Our betting makes Biden the clear favourite to triumph in the US Election and replace Donald Trump as President," said Aitkenhead.
Trump's odds are shorter than they were at this stage in 2016, but he will still have to upset them to win a second term.
"Trump was about a 3-1 chance at this stage in 2016, which gave him a 25% chance of winning. This time around we make that probability of victory about 38%, so he's certainly not done yet."
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Worldwide, betting on the election is set to surpass £1billion ($1.3billion).
Matthew Shaddick, of Brit gambling firm GVC, said: "This is a huge market.
"It is twice as big as 2016, easily making it the biggest political event ever.
"It might be the biggest ever market on anything pretty much and outstrip football worldwide. I guess a billion pounds ($1.3 billion, 1.1 billion euros) is being bet."
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And William Hill's international spokesman Rupert Adams added: "We are already over £3million and expect to take £10million.
"We predict that this will be the biggest wagering event of 2020. The figures are simply astounding and include all sporting events."
Throughout this week, the Daily Star Online will be bringing you all the big news, and some of the quirkiest, from 2020's US election. You can read more of our coverage here.