The 2020 presidential election is still not decided. As states were called Tuesday night, the betting odds for President Donald Trump and former Vice President Joe Biden shifted drastically.
What To Know: Biden entered election night as the odds on favorite to win the 2020 presidential election. On Election Day, Biden had a 67% chance to beat Trump, according to Action Network.
Oddsshark listed Biden as the favorite at 6 p.m. ET and he stayed ahead until 9:25 p.m. Biden’s odds dropped from 7:20 p.m. until Wednesday morning.
By 10:30 p.m., Trump’s odds to win re-election soared and he became the odds on favorite to win with an implied probability of 88.5%.
The morning after the election is seeing Biden as the favorite to win the election. Oddsshark lists Biden with a 77.8% win probability as of 7:30 a.m.. Odds from Betfair via Action Network list Biden with a 76.9% win probability as of 8 a.m.
More than $515 million was bet on the U.S. presidential race at Betfair as of Wednesday morning.
Related Link: 30 Stocks And ETFs To Watch After 2020 Election Day
What’s Next: Several states are still tabulating vote counts and their races have not been called. As of Wednesday morning, the electoral vote count stood at 224 for Joe Biden and 213 for Donald Trump. A total of 270 electoral votes is needed to win.
Betfair will keep betting open on the 2020 presidential election until a winner is declared or a candidate concedes.
Predictit, which offers wagering on the election lists Biden at 77 cents and Trump at 29 cents. The winner will pay out 100 cents on the wager.
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