- Odds have been fluctuating for both President Donald Trump and former Vice President Joe Biden to win the 2020 Presidential Election since campaigning began.
- Trump started out as the favorite and Biden was the underdog but now the tables have turned and Biden is slated to win in 2020 by sportsbooks.
WASHINGTON – Betting markets fluctuate with the times but as Election Day is upon us gamblers are wondering when the best time to wager on the candidates occurred in order to get the highest payout if they were to win.
So much has happened throughout the campaign trail that has had the odds on a rollercoaster of ups and downs for both President Donald Trump and former Vice President Joe Biden. The 2020 Presidential Election has made a record as being the most gambled on event in the history of the UK as reported by sportsbooks like Betfair.
But when was the right time for players to place bets on the candidate they believe will win?
The Right Time To Gamble On Your Candidate?
Odds for the 2020 Presidential Election started popping up on sportsbooks like Bovada beginning in October of 2018. Back then, when Trump was in the middle of his current term in office, he was the favorite to win with odds of (+110). Biden had not yet become a blip on the radar.
In January 2019, as uncertainty within the government was happening, Trump’s odds widened to (+180) which would have been a great time for gamblers to bet on the President to receive a nice return on their investment if he were to be re-elected on Tuesday.
Fast forward to April 2019 when Biden threw his hat in the ring as a Democratic candidate. During the debates for the Democrat spot, Biden held odds of (+543) in January 2020. This would have been a terrific time to wager on Biden to win as the payout will be huge for those who did should he prove to be victorious and win the election.
But the absolute best time for Biden bettors was in March of 2020 when he held odds of (+924) of winning, almost doubling the payout for those that bet on him during this time from January bettors.
Super Tuesday would be the turnaround Biden needed in his campaign as legal sports betting sites shifted his odds from (+924) to (+164) after that day. From then on, the former Vice President would continue to slowly climb in the polls and ultimately make him the favored winner by sportsbooks.
Trump saw many current events unfold that would continue to shift his odds from the favorite to the underdog. The Coronavirus Pandemic that hit the nation in March started the slow decline in polls and odds for the President.
People were unhappy with his response to the outbreak of COVID-19, but in spite of it, what placed him in second place was the Black Lives Matter (BLM) movement.
The public was not satisfied with his response to this movement and that was a turning point in his campaign. In June, during the height of BLM protests, Trump had odds of (+101) while Biden reached the top with odds of (-114).
This trend would continue on with Trump’s odds for reelection would get larger while Biden’s odds to win the 2020 presidential election got shorter.
But, while the best time to have bet on Biden was months past, the best time to bet on Trump actually came last month. When news broke that the president had contracted the coronavirus, oddsmakers quickly took down betting lines for the 2020 presidential election.
When those same political betting odds came back up, Trump’s odds stretched to (+148) and Biden’s soared to (-183). What was bad news for the president himself became positive news for those hoping to get the best possible return betting on Trump to win the election.
In The End
The best time to gamble on Joe Biden to win the 2020 Presidential Election was in March while the best time to wager for Donald Trump was in January in 2019 and October 2020 as his odds went down to (+184) this past October.
On Election Day, President Trump has odds of (+160) to win a second term in office, and Biden is perched at the top with odds of (-180) to become the next President of the United States.
Come Tuesday night, most answers will be known about the winner but an announcement about who the 46th President of the United States will be may come later.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.