Trump overtakes Biden as favourite to win in November: Betfair Exchange

[LONDON] US President Donald Trump has overtaken Democratic rival Joe Biden to stand as the favourite to win the 2020 US Presidential election on Europe-based betting exchange Betfair, the exchange said on Wednesday.

Mr Trump's odds, reflecting wagers matched on the peer-to-peer betting network, stood at evens, Betfair Exchange said, versus 21-20 for Biden.

Betfair Exchange said four bets of over 10,000 pounds (S$18,185) were placed on the platform overnight, of which three were on Mr Trump, while the biggest stake of the campaign so far, a 50,000-pound bet, was placed on the Republican nominee over the weekend.

These bets in part aided Mr Trump to take the lead, after being neck-and-neck with Mr Biden earlier this week, completing a stunning recovery in the betting markets.

"In August, Trump had the worst odds for re-election of any sitting President in history and defeat to Biden was looking increasingly likely," Darren Hughes, spokesperson at Flutter Entertainment unit Betfair Exchange, said.

A Reuters/Ipsos national opinion poll on Wednesday showed 40 per cent of registered voters support Mr Trump, compared with 47 per cent who said they will vote for Mr Biden.

Mr Biden's lead is largely unchanged over the past three weeks, during which both parties held conventions to nominate their candidates Mr Trump and Mr Biden for the presidency.

REUTERS