Joe Biden Defies Presidential Betting Odds: Wins Election

On Saturday, Joe Biden was declared the 46th President of the United States by the Associated Press after he was projected to win Pennsylvania.
Before Super Tuesday, Joe Biden was given +934 odds to win the 2020 Presidential Election.
On Friday, Biden was given -1200 odds to win the election after he took a lead in both Georgia and Pennsylvania.

WASHINGTON – On Saturday, the Associated Press declared Joe Biden the winner of the 2020 Presidential Election. The announcement comes days after Election day due to several states continuing to count mail-in ballots.

Joe Biden began his path to the Presidency as a significant underdog. Shortly before Super Tuesday, Joe Biden was given +924 odds to become the 46th President of the United States.

Even during Election night, the live betting odds for the presidential election shifted in favor of Donald Trump winning. However, by Friday it seemed the tide had shifted completely in Biden’s favor. With a lead taken in Georgia and Pennsylvania, Biden’s odds became favored at online sportsbooks at a whopping -2000.

The final domino fell when the AP officially projected Biden to win Pennsylvania which gave him more than the 270 electoral college votes necessary to win the election.

With the announcement, online sportsbooks took down any presidential betting odds. However, the opportunity for political betting may not be finished as current president Donald Trump isn’t going out without a fight.

Trump Still Hasn’t Conceded

Despite major media outlets all confirming that Joe Biden has won the Election, Donald Trump has still taken to Twitter to tell his supporters otherwise.

I WON THIS ELECTION, BY A LOT!

— Donald J. Trump (@realDonaldTrump) November 7, 2020

In the days following Election day, Trump’s camp confirmed they were going to sue Michigan and Georgia, claiming possible voter fraud. However, judges quickly tossed the cases claiming that there wasn’t sufficient evidence to file a lawsuit.

Even so, Trump has refused to back down from his argument that there is voter fraud.

“The simple fact is this election is far from over. Joe Biden has not been certified as the winner of any states, let alone any of the highly contested states headed for mandatory recounts, or states where our campaign has valid and legitimate legal challenges that could determine the ultimate victor,” said Trump in a statement.

Still, given the fact that Biden currently has 290 electoral college votes and is on pace to win 306, it seems unlikely that any tactic the Trump campaign uses will knock him below 270. Those betting on more 2020 presidential election odds may not want to hold their breath.

Biggest Winners Of The Day

Joe Biden’s victory also presented a major win for online sportsbooks. Coming into Election Day, over 70% of the betting action being put on the Election was on Trump winning.

However, most of these bets were on the small side. Some of the biggest bets, including several million dollars wagers, came on Biden winning, proving once again the sharps were right.

Sports bettors also won, but for some of them, their bets for Biden were paid out days ago.

While there are still some possible legal challenges coming up on the horizon, Biden voters and bettors can celebrate for now.

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Hasan Nabulsi

– In his career, Hasan has worked both local and state government positions—including the Attorney General’s Office in Florida. On top of being familiar with the legislative process, he has also been researching and writing on the legality of sports betting across the US. Outside of work you’ll most likely find him producing or playing music, playing sports, or working on creative writing projects. You’ll also catch him at Doak Campbell Stadium cheering on the Noles.