The 2020 US Presidential election is now just over a week away. A huge number of people around the country are now flocking to different online sportsbooks to place their bets on the outcome. New reports have recently surfaced that indicate Trump vs. Biden betting revenue is likely to break records.
This election is being watched around the world. There are now many sites offering different betting options for the possible outcomes. Today, we’ll take a look at how much betting revenue this year’s election is expected to produce.
Let’s get into it!
Analysts Remain Divided Predicting US Election Results
Prior to election night in 2016, the vast majority of analysts predicted that Hillary Clinton would become president. She seemed to hold a wide lead in almost all polls and was the pick from most mainstream media outlets. Of course, Donald Trump ended up winning one of the biggest political upsets of all-time.
Four years later, and many analysts remain torn on who will win the election on November 3rd. Most polls seem to indicate that Biden holds a lead in several key states. As we saw in 2016, however, polls can oftentimes be deceiving.
The race seems to be tightening. Over the weekend, Trump gained in national polling averages and in nine of the 12 swing states. New reports from USA Today claim that Biden’s lead is now just 3% or more in several important states including Michigan, Wisconsin, and Pennsylvania.
It’s been fascinating to see how these predictions have changed over the past few months. Even the top politician analysts cannot accurately say with certainty how things will play out. Interestingly, there’s been a massive surge of US residents betting on the election this year.
There are now many fantastic online sportsbooks available throughout the entire country. The majority of them are offering odds on the US presidential election. Based on the way things are moving, this will be one of the most-wagered-on events of all-time.
A massive amount of money on these political bets has been flowing in recently.
Trump vs. Biden Betting Revenue is Surging Right Now
Political betting has always been popular. There’s no doubt that the popularity of this form of gambling has been increasing rapidly since the election of Donald Trump in 2016. Many people around the country have been wagering on the many political events this year.
It’s difficult to track exactly how much money is being placed on the presidential election. Today, more than 20 states have regulated sports betting industries set in place. Sports betting is available in most of the other states, yet it’s not directly-regulated by the state governments.
We’re now hearing the Trump vs. Biden betting revenue in regulated states is surging right now. Betfair, one of the most popular online sportsbooks in the world, has already collected $215 million in bets on the election. Sam Rosbottom, a spokesperson for the company, claims it’s shaping up to be the most-bet-on political event in history.
Bovada is another one of the most popular and safest internet sports betting websites in the US right now. Recent reports claim this company is seeing 55% more bets placed on this year’s election compared to 2016. It’s an incredible statistic to hear and many believe this money will continue to increase leading up to election night.
Odds vary from site to site. As of now, Bovada lists Joe Biden as the -190 favorite. Trump currently comes in as the +145 underdog. There’s still a chance that these odds could change over the next week.
Stay tuned for more political betting news over the next few days!
2020 Proves to be a Successful Year for US Sports Betting Operators
It’s not completely surprising to see how much money is being placed on the presidential election this year. Over the past few months, there’s been a massive surge in sports betting across the country. As more sports leagues began operating again, revenue from the industry has been increasing.
This is great news for the many different sports betting companies now in the United States. The US now has the most profitable sports betting industry in the world. Many of the biggest sports betting operators in Europe have recently broken into the US market.
That includes William Hill. This company has now been operating in the United States for years and is now present in several different states. Just a few weeks ago, news broke that Caesars Entertainment had agreed to purchase William Hill for $3.7 billion.
It’s easy to see why so many companies are trying to jump on this train. Several states are now seeing their highest sports betting revenue figures ever. New Jersey even set an all-time US record in September with $748 million in sports betting handle.
Trump vs. Biden betting revenue is increasing right now. Some feel we’ll see another major upset. It will be fascinating to see how much money has been made off this election once it’s concluded next month.
Do you plan to bet on the election this year? Who do you think will win? Let us know in the comments section below!