For the first time, Joe Biden has overtaken Donald Trump as the betting favorite to win the 2020 U.S. presidential election.
European sportsbook Betfair listed Biden on Thursday as the -110 favorite over Trump, the +110 underdog.
Offshore book Bovada also has made Biden, the presumptive Democratic nominee, the -110 favorite over President Trump (Even).
According to betting aggregators US-Bookies, which tracks odds from bet365’s United Kingdom-based betting market, Biden now has a 47.6 percent chance to win the election while Trump has a 44.1 percent chance.
“Biden becoming more likely to win the election than Trump is a hugely significant moment in the election as oddsmakers now believe the sitting president will not serve a second term,” US-Bookies analyst Alex Donohue said. “For the first time since betting markets opened, there is a candidate that is more likely to win the 2020 election than Donald Trump.”
Nevada sportsbooks aren’t allowed to take bets on the U.S. presidential election. But South Point oddsmaker Jimmy Vaccaro posted odds on it for entertainment purposes only in April, making the presidential race a pick’em between Biden and Trump.