Political bettors are showing a lack of confidence in President Joe Biden’s ability to win the upcoming election, as indicated by the latest odds from Betfair. After an official report raised concerns about the president’s memory, Biden’s chances of reclaiming his post have dropped to 3.9.
The Justice Department’s report into Biden’s mishandling of classified documents seems to have shaken the confidence of political bettors. Despite the 81-year-old president’s denial of any memory issues, the report has had a clear impact on his odds in the upcoming election.
In a further blow to Biden’s image, he recently made a gaffe by referring to the Egyptian leader as the President of Mexico. This has only added to the doubts surrounding his ability to lead.
Meanwhile, former President Donald Trump’s chances of returning to power have seen a boost, with his odds now standing at 2.2 or 47%. Despite ongoing legal issues, Trump is gaining momentum in the eyes of political bettors.
The possibility of another candidate winning the Democratic ticket has also not been ruled out. Vice President Kamala Harris and Michelle Obama have seen increased support from punters, indicating a potential shift in the Democratic race.
On the Republican side, Trump continues to be the frontrunner, solidifying his position as the leading candidate for his party. The exit of DeSantis, who was once considered a major contender, has further strengthened Trump’s standing.
According to Betfair spokesman Sam Rosbottom, many bettors now view Trump as a more reliable candidate in light of the recent report about Biden’s memory issues.
President Biden’s recent visit to Las Vegas also made headlines, as he took aim at Vegas resorts for their “junk fees” and promised to crack down on additional charges. He also pledged to work on lowering the cost of insulin, prescription drugs, and energy.
As the election draws closer, the shifting odds and political developments continue to keep bettors and observers on their toes.