President Donald Trump Odds on Conceding to President-Elect Joe Biden Remain Long

Posted on: November 11, 2020, 01:59h. 

Last updated on: November 11, 2020, 02:46h.

President Donald Trump is showing no signs that he’s preparing to concede the November 3 election to President-elect Joe Biden.

Donald Trump Joe Biden odds election
Bettors are forecasting a long and stormy period before President Donald Trump concedes to President-elect Joe Biden. (Image: Getty)

Trump continues to contest the validity of the presidential election, which media outlets, including the Associated Press, CBS News, ABC News, Fox News, and CNN, have all deemed Biden the winner. However, those conclusions are unofficial.

Lawsuits have been filed on behalf of the Trump administration in numerous states regarding alleged faulty mail-in ballots and vote counting procedures.

Bettors on the political betting exchange PredictIt aren’t putting money on an impending concession.

“Will Trump or Biden personally concede defeat within two weeks of Election Day?” has “Yes” shares trading at just seven cents. The market’s deadline is November 17 at 11:59 pm ET.

“People will not accept this Rigged Election!” Trump added. Biden is telling the nation that the race is over, and he will be the 46th president of the United States.

“America, I’m honored that you have chosen me to lead our great country. The work ahead of us will be hard, but I promise you this: I will be a President for all Americans — whether you voted for me or not. I will keep the faith that you have placed in me.”

The Bid Goes On

Though numerous media outlets have declared Biden president-elect, the election isn’t official until the Electoral College votes. December 8 is the deadline for resolving election disputes, and December 14 is when electors cast their vote based on how the jurisdictions they represent did.

Election certificates are to be certified by December 23, and the House and Senate will hold a joint session on January 6 to count the electoral votes. The Senate president, who is currently VP Mike Pence, will announce the results.

Because the Electoral College has yet to vote, and disputes are ongoing, oddsmakers continue to offer lines on who will be the ultimate winner.

Biden is naturally the heavy favorite. On UK betting exchange Betfair, Biden’s odds are at 1/10 (90.91 percent). On that line, you’ll need to bet $1,000 to win $100.

Trump is at 44/5 (10.2 percent chance). A $100 bet on Trump and would net $880.

Looking (Way) Ahead

The 2020 presidential election set betting records. Betfair alone exchanged nearly $800 million on the Trump vs. Biden showdown.

With the 2020 race still gripping the world, oddsmakers are taking action on the 2024 election. UK bookmaker William Hill has Vice President-elect Kamala Harris the front-runner at 7/2 (22.22 percent). Biden is at 9/2 (18.18 percent), and Trump at 7/1 (12.5 percent).

PredictIt’s 2024 US presidential election market has a Democratic victory favored at 52 percent, and Republicans at 47 percent.

Biden has pledged to be a “transition candidate,” hinting that he won’t seek a second full-year term. Biden will be 78 years old at the time of his inauguration, the oldest president at the time of his swearing in by nearly eight years (Trump became the oldest in 2016 when he assumed the office at 70 years, 220 days).