- President Joe Biden is seeing his betting odds to win the 2024 presidential election lengthen significantly as a result of poor approval ratings on a variety of subjects.
- Florida Governor Ron DeSantis’ betting odds are surging and now tied with Biden for the second-best to win the presidency behind Donald Trump, who currently sits as the favorite.
WASHINGTON – President Joe Biden has seen his betting odds to win re-election during the 2024 election lengthen significantly.
Historically, the incumbent president enjoys a significant advantage for re-election – in the last 100 years, just five presidents that ran for re-election failed to win a second term: Donald Trump in 2020, George H.W. Bush in 1992, Jimmy Carter in 1980, Gerald Ford in 1976, and Herbert Hoover in 1932.
In all of American history, just 11 presidents that ran for re-election failed to win a second term – this means that incumbent presidents enjoy a significant statistical advantage during re-election bids.
Biden Sees Odds Lengthen Dramatically
Since being sworn in on January 20, 2021, Biden has faced a constant barrage of controversy and public gaffes that have significantly hurt his public image. A recent poll conducted by Politico and Morning Consult showed that just 43% of Americans approve of Biden’s performance in the White House thus far.
Other polls, including another recent poll conducted by NPR, show lower approval ratings around 41%. As a result, Biden’s betting odds to win the 2024 presidential election have lengthened to (+350) on legal sports betting sites.
One major event that has hurt Biden’s approval rating was the withdrawal of U.S. armed forces from Afghanistan, the largest foreign policy decision the Biden Administration has made since inauguration. During the withdrawal, a large portion of Afghanistan fell to Al-Qaeda and Taliban forces, who quickly captured the Bagram Airport and capital city of Kabul and declared victory; moreover, over 1,000 U.S. citizens and visa holders were stranded in Afghanistan as well as several billion dollars of military equipment and weaponry.
The withdrawal was accompanied by widely-circulated videos of desperate Afghanis attempting to cling to the side of C-130 aircraft, and public outcry ensued. As a result, Biden has taken a significant hit in foreign policy approval – the Politico poll showed that just 38% of Americans approve of Biden’s foreign policy performance.
Biden has also struggled with managing public opinion on a wide variety of other subjects. His handling of COVID-19, the U.S.-Mexico border, and crime have resulted in approval ratings drops in the subjects of public health, immigration, and criminal justice. However, his weakest subject in the recent Politico poll was the economy, with just 17% of respondents saying they “strongly approve” of Biden’s performance and 40% saying they “strongly disapprove” of the president’s handling of the economy.
Of the nearly 2,000 respondents, 43% listed economic issues as their top priority for the 2024 election. With inflation at a 30-year high, Biden’s economic approval rating may drop even further, which would spell disaster for his re-election hopes.
Florida Governor Ron DeSantis Rising Fast
With Biden’s betting odds to win the 2024 presidential election lengthening, other notable politicians are seeing their betting odds move in the other direction. One of these politicians is Florida Governor Ron DeSantis, whose 2024 presidential election betting odds are currently tied with Biden at (+350).
While DeSantis has not yet formally announced a presidential campaign, he has been thought of as the non-Trump frontrunner for the Republican Party nomination since he gained notoriety during the Coronavirus pandemic.
DeSantis handled the pandemic in a very different manner than many other similarly-large states – in September, DeSantis signed an executive order forbidding Florida from imposing fines or closing down places of business for violating mask mandates. He also publicly pushed back against further government-imposed shutdowns and government-imposed vaccine mandates, which garnered him favor with conservatives and independents.
A recent poll conducted by Saint Leo University in Florida showed that over half of respondents approved of both DeSantis’ overall performance and his handling of the Coronavirus pandemic.
Trump Current Favorite To Win 2024 Election
Outside of DeSantis, President Donald Trump is also seeing his betting odds to win the 2024 presidential election surge. Currently, Trump sits at +220 odds to win the next presidential election – the shortest odds of anyone.
Despite an incredibly controversial first term that culminated in him losing his bid for re-election, there are rumblings that Trump may run again in 2024. While Biden defeated Trump in the previous election, many Americans are beginning to sour on the Biden Administration, particularly due to the economy.
While Biden’s economic approval rating is cratering, Trump held historically-high economic approval ratings while in office. With Americans listing economic issues as their primary concern for the 2024 elections, this record does not bode well for Biden if Trump were to run again.
Moreover, Trump’s response to the Coronavirus pandemic was subject to heavy media coverage and became a major sticking point for many voters; however, he still maintained around a 40% approval rating on his handling of COVID while in office.
With more COVID deaths in 2021 than 2020 despite the availability of several vaccines and treatment methods, Trump may enjoy an edge over Biden in their handling of COVID if he were to secure the GOP nomination as well.
News tags: Afghanistan | Al-Qeada | Bagram Airport | COVID-19 | Donald Trump | Florida | George H.W. Bush | Gerald Ford | Herbert Hoover | Jimmy Carter | Joe Biden | Kabul | Mexico | Morning Consult | NPR | Politico | Republican Party | Ron DeSantis | Saint Leo University | Taliban | United States | White House
Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.