Biden Now an Overwhelming Favorite in the Betting Markets After a Night of Wild Odds Swings

The betting odds have careened all over the place in terms of who will win the 2020 election, but as the vote count continues to unfold, Joe Biden has now overtaken Donald Trump’s odds for victory.

Through much of Election Night, Trump was the favorite to win among betters as he took Florida, Ohio, and a number of other states that were believed to be in play for the general election. Action Network had the odds for Biden down to a 26 percent chance of winning at 10:00 p.m. on Tuesday night, but 12 hours later, the former vice president’s odds have jumped to an 83 percent high point while Trump’s have fallen to 17.

As of this writing, British bookmaker Betfair has Biden a sizable favorite, with Trump checking in as a nearly 4-1 underdog. This is a reversal from wee hours Wednesday morning, when Trump was a 3-1 favorite in many places. The betting aggregate site Oddschecker showed a similar trend in the odds, with most betting outfits showing the odds shortening for Biden but drifting for Trump.

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