With its ‘2016 US Presidential Election’ market hitting £63 million in wagers Betfair has announced that Hillary Clinton has hit her lowest trading price of 1.18, giving the Democrat candidate an 85% chance of becoming the first US female president.
With just 24 days till the US hits its polls, Betfair revealed that Donald Trump currently trades at 7.0 giving the Republican candidate a 14% chance of winning the White House.
Trump’s presidency campaign has hit the rocks following a week of scandals centering around lewd/sexist comments made by the brash New Yorker.
This week high profile Republicans’ such as Paul Ryan current Speaker of the U.S. House of Representatives and Arizona Senator John McCain rescinded their endorsements of Trump as GOP party candidate.
The majority of US Election polls have further tilted in favour of Hillary Clinton, with some forecasting a Democrat victory by 11-12 points.
Barry Orr, Spokesperson for Betfair, commented on the market
“Trump no longer has the backing of his party and seemingly no longer has the backing of bettors with the Republican Nominee now trading at 7.0, which equates to just a 14% chance. At this point before Election Day in 2008 John McCain was trading at 6.64, his biggest price since becoming the official candidate for the Republican Party, but Donald Trump is faring even worse trading at 7.0 at the same stage.
“There’s been £63m matched on the Next President market, making it the second biggest political betting heat in Betfair Exchange history with 24 days left to go. Despite Hillary Clinton’s odds-on price, this presidential race has seen countless twists in its plot, so this market is likely to see a huge amount of activity over the coming weeks. We expect to see political betting records tumble over the upcoming weeks. ”