Despite the continuing protests rocking the nation. Despite the criticism of his handling of the covid-19 pandemic. Despite the questions about taxes, foreign powers influencing the election, the mail-in vote debate and his stoking the flames of racial tension. Despite these and a number of other negatives, the odds are moving toward Trump.
The GOP convention and Trump’s nomination acceptance speech have prompted a MAGA comeback of sorts. Gamblers are now pushing the odds towards the incumbent at sportsbooks. The election race is being called and MAGA is being credited with the “biggest convention comeback.”
Trump has been able to narrow the gap on Democratic presidential contender Joe Biden, according to the Las Vegas Review-Journal.
“The election odds tightened to a virtual pick’em at London-based Betfair Exchange, which lowered Biden to -105 and moved Trump to +105 in what the book called in a release the ‘biggest convention comeback in political betting history,’” Moguldom founder Jamarlin Martin tweeted in an excerpt from the Las Vegas Review.
On Aug. 27, Biden was the -130 favorite over Trump (+113), according to Pinnacle Sports. However, the offshore sportsbook decreased Biden to -118 and increased Trump to +101 after the president delivered his nomination acceptance speech Thursday from the White House, the Review-Journal reported in a separate article.
“Trump’s implied probability of victory improved from 41 percent to 49 percent at Betfair during the Democratic and Republican conventions. The 8 percent improvement was the largest during the convention period of any candidate since election trading began on Betfair Exchange in 2004,” the Review-Journal reported.
Trump’s odds had fallen as low as +145 but now sit at +105 (Bet $100 to win $105), which is the best line he has seen since June 22, according to OddsShark’s Presidential Election odds tracker.
“We first noticed the tides changing when (Sen. Kamala) Harris was officially named as the VP nominee,” Dave Mason of BetOnline told Forbes. “That trend continued as the Democratic Convention went on, with it appearing that bettors are starting to lose confidence in Joe Biden’s presidential campaign.”
Listen to GHOGH with Jamarlin Martin | Episode 73: Jamarlin Martin Jamarlin makes the case for why this is a multi-factor rebellion vs. just protests about George Floyd. He discusses the Democratic Party’s sneaky relationship with the police in cities and states under Dem control, and why Joe Biden is a cop and the Steve Jobs of mass incarceration.
The current odds, however, don’t guarantee a win by either side. “I even saw some places that had Donald a small favorite,” South Point oddsmaker Jimmy Vaccaro told the Review-Journal. “This thing is so contentious. When we get closer (to the Nov. 3 election), we might see them switching odds every day.
“It’s like the Lakers and LeBron (James). If they play good one night, you jack up the line a point the next night. If money comes the other way, you reduce it.”
