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US election 2020: The betting market gives Trump a 70% chance of winning


Donald Trump's chances of winning the 2020 presidential race hit an all-time high for the first time on election day as final polls across the country come to an end.

Bookmakers around the world are betting on whether Trump will be in office for another four years or whether he will be ousted by Democratic challenger Joe Biden.

By late Tuesday, Biden was the front runner among the betting markets with a 69 percent chance of winning, according to the gambling website Oddschecker.

By late Tuesday, Biden was the front runner among the betting markets with a 69 percent chance of winning

The betting markets fell in Trump's favor late Tuesday night as Biden's odds of winning dropped to 30 percent

But when the votes in the US show that Biden is fighting to secure the most important swing states, the odds flipped in favor of his opponent, whose chances of victory reached -333 or 76.9 percent.

The numbers are a significant jump from Trump's chances of winning at the start of the day when he was rated by players as having a 40 percent chance of re-election.

However, at around 9.45pm, Biden's chances took a massive blow and dropped to 48.4 percent.

As of 11 p.m. EDT, Trump has a 70 percent chance of voting in the election with 114 votes.

"He hasn't won yet, but it looks like he can," Maxim Lott, co-creator of choicebettingodds.com told Fox News.

Predictions on the gambling website ElectionBettingOdds shows that the odds have turned in Trump's favor in the past few hours

Predictions on the gambling website ElectionBettingOdds shows that the odds have changed in Trump's favor over the past few hours

However, Lott pointed out that despite the current odds, the real outcome remains largely unpredictable and could still come back in Biden's favor.

The predictions are based on betting markets outside of the US, the majority of Europeans, as it is illegal for Americans to gamble on politics.

The high-stakes election, held in the middle of a turbulent year sparked by the coronavirus pandemic, is one of the biggest betting events in history today, at $ 460 million, according to Oddschecker.

Trump and Biden were trapped in close races in battlefield states across the country on Tuesday evening as they completed an epic campaign that will shape America's response to the growing pandemic and fundamental issues of economic fairness and racial justice.

From coast to coast, the races were too early to call the most competitive states on the map, including Florida, North Carolina, Georgia and Pennsylvania.

Both candidates scored some predictable victories, with Trump conquering states like Kansas and North Dakota, and Biden's train including Colorado and Virginia, two former battlefields that have become democratic strongholds.

The Americans made their choice when the nation was facing a confluence of historical crises and each candidate declared the other fundamentally unfit to meet the challenges.

Daily life has been churned by the coronavirus, which killed more than 232,000 Americans and cost millions of jobs.

Supporters fill the street as Democratic presidential candidate, former Vice President Joe Biden, speaks during a visit to Philadelphia on Tuesday

Supporters fill the street as Democratic presidential candidate, former Vice President Joe Biden, speaks during a visit to Philadelphia on Tuesday

Protesters gather outside the White House during the 2020 presidential election

Protesters gather outside the White House during the 2020 presidential election

Millions of voters have put aside concerns about the virus – and some long lines – to come forward in person. You have joined 102 million fellow American citizens who voted days or weeks earlier. This is a record number, accounting for 73 percent of the total vote in the 2016 presidential election.

The first results in several major battlefield states were in flux as election officials processed a historically large number of mail-in votes.

Democrats tend to outperform Republicans in postal votes, while the GOP aims to catch up in voter turnout on election day.

This means that the early gaps between candidates could be affected by what kind of votes – ahead of time or on election day – were reported by states.

Biden stepped into Election Day with multiple avenues to victory, while Trump, who was catching up in a number of battlefield states, had a narrower but still feasible path to garnering 270 electoral college votes.