The odds of President Donald Trump being reelected for another four-year term continue to lengthen, and that’s prompting the commander-in-chief to go on the offensive against his Democratic challenger.
Former Vice President Joe Biden has opened up a considerable lead on the political betting exchange PredictIt.
Shares of the 77-year-old winning on November 3 are trading at 59 cents. A month ago, those same shares were trading at 44 cents. Conversely, shares of Trump winning are at 43 cents. A month ago, they were 50 cents.
It’s a trend the president desperately wants to end, and he’s taken to Twitter in an effort to attack his rival’s political record. Less than a week after saying Biden is “not all there,” Trump tweeted yesterday, “Joe Biden was a TOTAL FAILURE in Government. He ‘bungled’ everything that he touched!”
Biden got failing grades and polls on his clueless handling of the Swine Flu H1N1. It was a total disaster, they had no idea what they were doing. Among the worst ever!” the President added today.
The former VP countered, “Donald Trump inherited a growing economy from President Obama and me. And just like everything else he has inherited in his life, he has squandered it.”
Biden Enthusiasm
PredictIt bettors aren’t alone in putting money on Biden. Novelty bettors overseas, where oddsmakers are permitted to offer lines on political outcomes, have also recently moved their support to the Democratic candidate.
In late April, William Hill had Trump favored for November at -110 (implied odds 52.38 percent). Today, the bookmaker has the President longer at +115 (implied odds 46.51 percent).
Biden has shortened to win the presidency from +110 to -120. His line today gives the longtime DC politician a 54.55 percent chance of becoming the next commander-in-chief.
The PredictIt betting market and overseas oddsmakers are catching up to the pollsters, which have long had Biden as the 2020 favorite. The Real Clear Politics polling average has Biden with an 8.5-point national lead over Trump.
The former Vice President is additionally favored in six of seven key battleground states. Biden leads in Wisconsin (+5.4 points), Florida (+4.6), Michigan (+8.6), Pennsylvania (+5.6), Arizona (+4.0), and Minnesota (+5.0).
The seventh battleground state – North Carolina – has the RCP average in a dead heat.
Fight Continues
Trump’s handling of the COVID-19 virus, and his response to the death of George Floyd, seem to be moving voters to Biden’s side.
Trump believes he’s handled the coronavirus better than Biden and former President Barack Obama did with the swine flu. Trump also said recently that he’s “done more in less than four years than Biden’s done in more than 40 years” for “Black America.”
We need a president who chooses unity over division,” Biden tweeted in response.
As for Biden’s running mate, the list is being trimmed down. Sen. Kamala Harris (D-California) remains the PredictIt frontrunner at 47 cents, US Rep. Val Demings (D-Florida) a distant second at 17 cents. Both are women of color.
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