While the initial trend in U.S. presidential elections seems to favor Democratic candidate Joe Biden over current Republican president Donald Trump, the betting market still favors Trump to win.
According to PredictIt, a prediction market based in New Zealand, Trump leads Biden from 62 cents to 37 cents in 44 centers at 61 cents in support of the former U.S. Vice President.
Interestingly, PredictIt’s website faced a halt as soon as the calculations began, as the prediction market posted on Twitter that it was trying to “get back the service as soon as possible”. Reuters said it did not reveal why the website was down.
Meanwhile, Betfair’s bettors are giving Trump a 75% chance to get back to the White House. Only 39 percent of the polls started in the United States on Tuesday morning. Biden’s odds of winning at Betfair have dropped from 61% before to 25%.
As of 10:30 a.m. (IST), Democratic candidate Biden is leading the race with over 200 votes in the race where a candidate requires 270 votes to become president of the United States. Trump secured 118 electoral votes.
Betfair spokeswoman Sam Rosbottom said, “Trump has overtaken Biden considerably and is at the peak and suggests that it could be a very tense night for Biden.”
According to the UK-based Smarkets exchange, Trump had a 55% chance of winning the election, up from 39% when the poll began. Bets on Trump fell after soaring to 80% at 2300 EST (GMT 0300).
The odds for Biden on Smarkets have dropped from 61% to 45% before.
Meanwhile, security has been strengthened at the White House, government buildings, and major commercial streets across the United States, and retailers are boarding stores to stop any damage as the United States prepares for the insecurity and violence that may arise in the 2020 U.S. presidential election.