Former President Donald Trump remains the favorite to win the presidential election, but Vice President Kamala Harris has seen her betting odds improve significantly over the past 48 hours, according to multiple betting markets, reports the Las Vegas Review-Journal.
The history of election betting markets in 50 seconds: pic.twitter.com/ZuUpqxU5jV
— Yahoo Finance (@YahooFinance) November 3, 2024
Harris had reached her longest odds since entering the presidential race in July when, on Wednesday, she stood at +180, while Trump was positioned as a -210 favorite at BetOnline. By Friday, the odds had shifted considerably, with Trump's position softening to -173 and Harris improving to +148. These odds mean bettors must wager $173 to win $100 on Trump, while a $100 bet on Harris would yield $148 in winnings.
The 🇺🇸 Presidental election betting market is now even:
🔴50%-50%🔵 pic.twitter.com/4MZJbqnfXl
— Evan (@StockMKTNewz) November 3, 2024
BetOnline, an offshore sportsbook operating outside US regulations, attributed the movement to a strong surge of Harris support, with wagers favoring her by a 4-to-1 margin over the past two days. After initially adjusting Trump's odds from -190 to -180 on Thursday, the book recorded a $41,914 bet on Trump, briefly pushing his odds to -185.
However, substantial support for Harris, including wagers of $35,000 at +165 and $20,000 at +160, prompted further adjustments. "Kamala continues to gain some momentum," BetOnline.ag brand manager Dave Mason posted on X.
Similar movements were observed at BetMGM's Ontario, Canada location, where analyst John Ewing reported Trump's odds shifting from -225 on Wednesday to -185 by Friday, with Harris moving from +175 to +140.
The trend is also reflected in aggregated data from electionbettingodds.com, which compiles odds from multiple betting platforms. Trump's implied probability of victory has decreased from 61.2 percent on Monday to 56.5 percent by Friday, while Harris's chances have improved from 38.3 percent to 43 percent.
