Betting markets took a sharp turn in President Donald Trump’s favor as the president took leads in several must-win states Tuesday night.
Trump took leads in Florida, Georgia and Ohio following a surprising surge in support among Hispanic voters. The leads suggest Trump may be walking his narrow path toward reelection. Betting markets responded, surging Trump from a 40 percent chance of winning the election to a 65 percent chance, according to Betfair.
“Donald Trump is now favourite to win the election for the first time, surging by 27% on Betfair Exchange since polls closed,” Betfair spokesperson Sam Rosbottom told Newsweek. “In a remarkable turn of events, Trump has overtaken Biden significantly and is now in pole position, suggesting it could be a very nervous night ahead for Biden.” (RELATED: Mitch McConnell Defeats Amy McGrath In Kentucky Even After Dems Dumped Almost $100 Million)
Oddschecker, a site that compiles the betting averages of a number of sites, now shows being the strong favorite for winning the election.
02:13 UPDATE
???? Trump: 138
???? Biden: 131Vegas odds have flipped and *Biden* is now the underdog in the betting market. Vegas now gives Trump 2:1 odds of WINNING https://t.co/GRFInk7A8b pic.twitter.com/dwnh00NnU9
— Guido Fawkes (@GuidoFawkes) November 4, 2020
China’s yuan currency also plummeted as a Trump win appeared to become more likely.
Chinese yuan tanking pic.twitter.com/dtmJRQiIap
— Mike Bird (@Birdyword) November 4, 2020
Neither Trump nor Biden have secured enough electoral college votes to win the election as of publishing time.