Last Updated on June 2, 2020
The current chaos and unrest in the country are all set against a backdrop of the 2020 US Presidential Election. Incumbent Donald Trump is set to take on former Vice President Joe Biden in the general election. The state of the nation is causing oddsmakers to reevaluate their belief in Trump’s reelection campaign. Biden is surging to +110 while Trump’s odds have dropped to -110.
Essentially, oddsmakers are calling this election a complete toss-up between Biden and Trump at this point. As recently as May, Trump was listed at -134 to win the election with Biden trailing behind at +140. Within the span of a few weeks, those odds have tightened dramatically.
The two-party system in the U.S. fosters presidential elections that become two-horse races. With Biden and Trump firmly entrenched as the nominees for their respective parties, it leaves bettors with two realistic options. It’s also worth noting that the recent shift in odds saw the dark horse candidates become even further longshots. Hillary Clinton has dropped from +2500 in May to +3300 right now. Similarly, Michelle Obama has gone from +4000 to +5000 during that same timeframe. The odds on who Biden will choose for his VP may provide more drama in the short term.
As the nation struggles in the wake of 100,000-plus dead from coronavirus, 40 million-plus unemployed, and the brutal killing of George Floyd, the presidential election looms. Instead of urging calm and soothing tensions, many feel that Trump is fanning the flames of unrest with his recent rhetoric. The response to the unrest is likely one of the main reasons why Biden is closing the gap between him and Trump.
The year 2020 is undoubtedly going to go down in history and it’s not even halfway over yet. Expect more changes in US Presidential Election odds.