Biden widens the gap at the head of the US Presidential Election 2020 market

Support strengthens Biden in US Election market

Joe Biden / USA ©imago images / ZUMA Wire 26.06.2020

The gap between Joe Biden and Donald Trump in the 2020 US Election market has widened. In favour of the former.

June 2nd marked the big shift.

Back at the beginning of June, for the first time, Donald Trump was not the favourite in the betting market to win this year’s election in the US.

Biden had just overtaken him and then gradually throughout the month, more and more support has gone Biden’s way.

The Democrat is now the 5/8 odds-on favourite to win* (betting odds taken from Bet365 on June 30th 2020).

Trump is now at 6/4 in the market after being hit by trouble after trouble in the office* (betting odds taken from Bet365 on June 30th 2020).

US Presidential Election 2020

Joe Biden 5/8
Donald Trump 6/4
* (betting odds taken from Bet365 on June 30th 2020).

Trump’s troubles mount

It has not been an easy time for Trump. The Coronavirus could well be the unpinning of support deserting him, at least in the betting markets.

On January 20th when there was an official announcement over the COVID-19 outbreak in the States, Donald Trump was 4/7 odds-on in the US Election 2020 market.

Trump has been heavily criticized over the way that he has handled the Covid-19 outbreak.

Recent reveals in a tell-all book by former national security adviser John Bolton have stirred up new and unfavourable insights into the Commander in Chief.

New reports now suggest that Trump knew of alleged bounties by Russia against US forces and took no action. That’s the latest thing on his plate as the Covid-19 cases in several US States have taken a sharp rise.

So maybe the toll has been catching up with him and even some long-serving Republicans have started to move against him.

In Tuesday’s market, Trump was at around a 35% chance of being successful in November’s election with Biden just over 60% in implied odds percentages.