US election odds: Biden overtakes Trump in UK betting markets

Joe Biden has overtaken Donald Trump in the UK betting markets as the favourite to win the US Presidential election. 

One bookmaker now claims that the Democratic candidate has a 78% chance of winning the vote – his lowest ever odds with the company. Meanwhile, President Trump has just a 22% chance, according to a probable win percentage that swung wildly back and forth overnight.

Mr Biden is narrowly ahead in the neck and neck race, with the result still not declared amid fears that an official winner may not be known for days or even weeks if the courts become involved. This afternoon Mr Biden took the lead in the key state of Michigan, as more and more postal votes were counted.

At least £434 million has been bet on the race in one UK bookmakers, with about £219 million placed on Mr Biden, overtaking President Trump on £207 million.

This afternoon, the Associated Press had Mr Biden on 238, while Mr Trump is on 213. The number required to win is 270. 

Betfair spokesperson Sam Rosbottom explained: ‘Joe Biden is now the clear favourite at 1/4 (78% chance) to win the US election – the best odds he’s ever been.

‘Donald Trump is currently a 7/2 (22% chance) shot with the President behind in a number of key states needed to secure his re-election.

When the first polls closed, Mr Biden was favourite at 1/2 (67%), with Mr Trump at 2/1 (33% implied probability).

But when the Republican win was declared in Florida, Mr Trump became favourite and at around 2.30am UK time last night, the incumbent was as short as 1/4 (80%).

Experts are now bracing for a long period of wrangling over the results, with recounts possible in key states still to declare and Mr Trump insisting earlier that he would go to the Supreme Court in an effort to remain in office.

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MORE : Joe Biden overtakes Donald Trump in race for key state Michigan

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