A turbulent week of US political drama has seen the Betfair Exchange shorten the odds on Donald Trump maintaining his Presidency, with odds trading at an all-time low of 8/11.
Betfair Politics details that Trump has benefitted from his acquittal by the Senate, which refused to advance impeachment hearings on alleged interference of Ukraine funds by the US 45th President.
Trump gains follow a catastrophic week for the Democratic Party, in which the crucial Iowa Caucus, the legacy bell-weather for the party presidential nominee could not declare a victor on Tuesday morning due to ‘app failures’ registering candidate nominations.
Iowa’s contested outcome would declare Vermont Senator Bernie Sanders and Pete Buttigieg Mayor of South Bend Indiana as a joint winner, as a hostile Democratic Party race moves onto its New Hampshire Primary scheduled for 11 February.
The Betfair Exchange currently maintains Bernie Sanders odds cut at 11/2, making him the clear second favourite, however, Iowa results have seen Pete Buttigieg odds continue to shorten to 16/1 having been priced at 39/1 two weeks ago and 999/1 last year.
Betfair Spokesperson, Sam Rosbottom said: “So far over £11,000,000 has been bet on who will be the next President of the United States, with odds on Donald Trump to be re-elected later this year now at the shortest they have been on the Betfair Exchange, he is 8/11 to be voted in for a second term following his speech to Congress.
Rosbottom adds “Despite Trump leading the way, the race to be the Democratic candidate to take him on is heating up and there is now a clear second favourite for the 2020 US Presidential Election, with the punters backing Bernie Sanders’ into 11/2 from 49/1 last year.”