President Donald Trump Gets Betting Bounce After RNC, 2020 Odds Tighten

Posted on: August 28, 2020, 10:47h. 

Last updated on: August 31, 2020, 12:07h.

On Thursday, President Donald Trump officially accepted the Republican Party’s nomination for the 2020 presidency. The Commander-in-Chief is receiving a slight boost in the betting markets following a showy Republican National Convention.

Donald Trump 2020 odds Biden
President Donald Trump has 66 days to close the polling and betting gap with his challenger, Joe Biden. (Image: Evan Vucci/AP)

Prior to the RNC, Democratic Party nominee Joe Biden held a commanding lead in PredictIt’s market asking who will win on November 3. The former VP’s shares were trading at 60 cents, and the President’s at 44 cents.

After a high-energy RNC, which was a stark contrast to the Democratic convention, Trump has gained some betting momentum. The President’s shares are now trading at 46 cents. Biden is down to 57 cents.

UK bookmakers are also tightening their 2020 odds. William Hill has Biden as the slim front-runner at -118 (implied odds 54 percent), and Trump at even money (implied odds 50 percent).

Trump supporters last night packed the White House South Lawn without social distancing and without most wearing masks. Among the guests was billionaire Phil Ruffin, who owns the Treasure Island and Circus Circus casinos in Las Vegas and holds a 50 percent stake in Trump International Las Vegas. Trump’s family business controls the other half of the Strip hotel and residency complex.

Polls Wrong Again? 

In 2016, the polls got it wrong. And those who plan to cast their vote to keep Donald Trump in the White House for another four years are hoping the pollsters are wrong again.

The Real Clear Politics polling average for the national general election gives Biden a 7.1-point lead. However, a new study from Cloud Research, market research, and data collection firm finds that Republicans are less likely to give their true opinion to political pollsters.

Some 11.7 percent of Republicans and 10.5 percent of independents said they would not give their true opinion when polled. That’s much higher than just 5.4 percent of Democrats.

Some Trump voters who participated in pre-election polls did not reveal themselves as Trump voters until after the election, and they outnumbered late-revealing Clinton voters,” the study noted. “This finding could be attributable to the so-called ‘Shy Trump’ effect in the pre-election polls.”

“It’s dangerous to express an opinion outside of the current liberal viewpoint,” opined Cloud Research CEO Leib Litman.

Trump Panders to Las Vegas

The president subtly highlighted his record regarding dealings with Israel, one of the most precious issues to Trump’s largest donors, Las Vegas Sands billionaire Sheldon Adelson and his wife, Dr. Miriam Adelson.

The Adelsons are preparing to fund Trump’s reelection campaign over the final 60 days. They gave $82.58 million in 2016, and $123.25 million during the 2018 midterms, nearly every penny to GOP causes.

“Unlike many Presidents before me, I kept my promise, recognized Israel’s true capital, and moved our Embassy to Jerusalem,” Trump said. The Adelsons were in attendance during the 2018 opening of the Embassy.

Miriam is an honorary citizen of Jerusalem, and was awarded the Presidential Medal of Freedom, the nation’s highest civilian honor, from Trump in 2018 for being a “committed doctor, philanthropist, and humanitarian.”