Democratic Sweep Odds Shorten, as Bettors Predict November Blue Wave
Posted on: October 9, 2020, 11:16h.
Last updated on: October 9, 2020, 11:36h.
The odds on a Democratic clean sweep happening on November 3 continue to shorten on political betting exchange PredictIt.
With just 25 days before Election Day, political bettors are snagging up shares of a potential blue wave.
A wave election outcome is when a party makes major gains on the federal level. Democrats appear poised to do just that.
PredictIt has a market asking, “Will Democrats win the White House, Senate, and House in 2020?” “Yes” shares are trading at 60 cents, up from 47 cents a month ago.
“Post-debate and positive COVID-19 test, former Vice President Joe Biden continues to increase his polling lead over President Donald Trump. And with the next debate — and for that matter, the final debate — in major doubt, the President and Republican Party could be courting political disaster,” a PredictIt release stated.
US citizens are already voting across the country through early voting and mail-in ballots. And while most won’t be opened and counted until Election Day, polls and odds continue to tilt in favor of the Democratic Party.
Biden’s shares of taking occupancy of the White House are at 68 cents. Democratic shares of taking control of the Senate are at 67 cents, and Democratic shares of retaining power in the House are at 90 cents.
PredictIt’s balance of power favors a Democratic House and Senate (70 cents). A Democratic House and Republican Senate is at 26 cents, and a GOP-controlled Congress is a distant 13 cents.
“The markets are currently predicting a blue wave, with the Senate and House both expected to go in the Democrats’ favor,” PredictIt analysts explained. “The Electoral College map appears to be a landslide in the making, with Biden projected to win 335 votes to Trump’s 203.”
One person who isn’t buying the betting odds is the President.
We are winning Big, in the Real Polls, all over the country!!! NOVEMBER 3rd. VOTE!!!” Trump tweeted this week. “The Gallup Poll has just come out with the incredible finding that 56 percent of you say that you are better off today, during a pandemic, than you were four years ago (OBiden). Highest number on record! Pretty amazing!”
Biden says it’s time the US had a better Commander-in-Chief.
“What we need in America is leadership that seeks to de-escalate tensions, to open lines of communication, and to bring us together. To heal — and to hope. As President, that is precisely what I will do,” the former VP tweeted.
Polls and Odds Agree
UK bookmakers permitted to take action on the 2020 election are in unison with the betting markets.
William Hill has Biden at 1/2 to win the presidency, and Trump the underdog at 13/8. Democrats are heavy favorites to keep the House at 1/6. A $100 winning bet on those odds nets just $16.67.
William Hill’s odds on the number of Senate seats the GOP will control after the election favors under 50 (8/13). Over 50 is at 15/8, and exactly 50 at 6/1.
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