Bookmakers have reported that US political markets are radically changing ahead of tonight’s crucial Super Tuesday vote, in which 14 states will cast their official nominations to lead the Democratic Party’s US 2020 Presidential campaign.
This afternoon, Betfair reported that frantic trading on its Exchange has seen former Vice President Joe Biden overtake Bernie Sanders.
The campaign for Biden, who is now priced at evens, has been revitalised by the drop-outs of Minnesota Senator Amy Klobuchar and South Bend Indiana Mayor Pete Buttigieg, with both runners now endorsing ‘Uncle Joe’.
DNC polls remain divided, but indicate a ‘moderate fightback’, flipping the script in what media considered to be a ‘Bernie Sanders Blowout’, as Vermont’s Senator slips to 13/8 on the Betfair Exchange.
Updating US 2020 markets, Betfair spokesperson Katie Baylis said: “Heading into Super Tuesday, which sees voters in 14 states picking their preferred Democratic candidate, Joe Biden has been given a huge boost with three former rivals Amy Klobuchar and Pete Buttigieg throwing their weight behind him.
“That’s seen his odds to secure the nomination shorten from 2/1 yesterday to Evens this morning and is a huge shift from last month where he was as long as 28/1. He’s leapfrogged Bernie Sanders into the favourite spot, with Sanders now out to 13/8 from 11/10 yesterday.
Meanwhile, Betfair counterpart Paddy Power disclosed this afternoon that a London punter had placed its biggest ever US political wager, staking £165,000 on Donald Trump’s re-election. Placed at odds of 8/13, the punter will make a profit of £102,000 should Trump retain his presidency.
Paddy Power Politics said: “Just an average Tuesday in the US presidential campaign, as a bettor headed into one of our London shops to place a ‘yuge bet’ on 2020 success for Donald Trump…It’s the biggest wager we’ve taken on the Election thus far.”
Trump currently trades as outright 8/13-4/6 market favourite across all UK bookmakers, as the controversial President benefits from clear DNC party divisions between its moderate and progressive wings.
US 2020 odds reflect DNC realities, because whoever wins the nomination will likely have to heal party rifts, as traditional GOP voters and die-hard MAGA supporters stand behind Trump.