SBC News Voice of the Sports Betting Industry
Betfair is braced for a mammoth US Election on Tuesday 3 November, as its betting Exchange breaks the £200 million barrier on the outcome of US 2020 Presidential race.
Frantic trading on Trump-Vs-Biden has surpassed total wagers placed on the Super Bowl, Grand National and World Cup final combined, with Betfair analysts stating that with just five days to go the market may double to £400 million.
US 2020 has surpassed the Betfair Exchange’s previous market wagering record of £199 million set by Trump vs Hillary Clinton in 2016 (who says politics doesn’t count!)
Though Joe Biden remains market favourite at 1/2 (66% chance of winning), Betfair notes that US 2020 wagers are evenly balanced with Trump (2/1) holding a total £98 million of market bets against Biden’s £95 million.
US 2020 has also seen Betfair record its biggest single ‘pre-polls’ political stake, as a punter has placed a £500,000 bet on a Biden victory, which will return £750,000 if successful.
Betfair spokesperson Sam Rosbottom said: “With six days to go, the 2020 election has already smashed 2016’s £199m total to set a new record as the biggest single betting market of all time and is more than the last Grand National, Football World Cup final & Super Bowl combined. Interest is at fever pitch levels and should it continue at this rate until polling day, we could be on course to see £400m bet on the outcome on Betfair Exchange.
“This event has captured the public’s attention like no other and it’s telling that more money has been bet on Donald Trump securing a second term than any of the world’s biggest sporting events. However, the odds suggest Joe Biden has the upper hand and one political bettor certainly agrees, to the tune of half a million pounds.”
