Between Trump and Biden … the betting firm expects a “winner”

Betting company Petfer Exchange said US President Donald Trump’s chances of re-election gained momentum last night in online betting markets as Americans head to the polls Tuesday.

Expectations of Trump winning the election rose from 35 percent to 39 percent, according to the UK-based company, while expectations for his Democratic rival Joe Biden fell from 65 to 61 percent.

The company added that “the election is on track to become the largest betting event by a wide margin over previous events, with the company taking bets of 300 million pounds ($ 389 million) so far.”

The company accepts bets until the outcome of the elections is announced and believes that the value of the bets will reach 400 million pounds, double the amount wagered in the 2016 elections.

The bet on Trump’s victory reached 38 percent on the British platform Smarkets, and the bet on Trump’s victory on Election Day in 2016 was five to one (17 percent), which is 20 percent. less than the current betting rate.

Biden also maintained his lead in opinion polls, but intense competition in changing states will likely determine the race. “One person has bet a million pounds ($ 1.3 million) on Biden’s victory, which is the biggest political bet in history. If Biden wins, he will reap,” he said Monday. That bet is 1.54 million pounds. “