Most live sports betting events are still off the board at the popular online sportsbook Bovada due to the coronavirus. Furthermore, this means that avid bettors have to look for new and different ways to place a few bets.
Since this time last year, one of the most popular alternative betting options has been the world of politics. Moreover, this is a long play since most of online betting sites’ prop options ties to this November’s general election for president.
Why Do Online Betting Sites Have Joe Biden In The Top Spot For President?
Going back to last year, Joe Biden was the favorite to win the Democratic nomination for president. He first fought off a challenge from Elizabeth Warren. She had a brief spell as the party’s favorite but that quickly faded heading into last fall.
In her place, Bernie Sanders made a strong run to the top of the list. This was before the race headed into the early 2020 state primaries.
Former Vice President Biden was always in the mix at longer online betting odds.
The strong results from Super Tuesday in early March propelled him to the top of the list once again. This time, he maintained his frontrunner position to be the Democrats’ nominee for president.
That prop is still on the board at Bodog with Biden listed as a prohibitive -1600 favorite. The other three names on the board are Hillary Clinton (+1400), Michelle Obama (+2000) and Andrew Cuomo (+2500).
That began to also change in March when the coronavirus first took hold in the US. Mass criticism over Trump’s handling of this pandemic started to turn the tide. He was still the favorite to win re-election but the gap with Biden narrowed.
Trump has always pandered to his core voting base. He took a divisive stance following the death of George Floyd at the hands of Minneapolis police. That caused the gap in those betting odds to narrow once again.
As Trump’s core group of supporters dwindles, even more, Biden is now a slight -105 favorite to win November’s election for president. Trump is a close even-money +100 second favorite. However, this marks a major phycological shift in bettors’ minds.
Betting odds for any prop or betting future is all about momentum. Online betting sites move the odds based on betting money coming in. Their goal is to balance the action on either side of the bet and make money on the juice (commission).
Most of the early money on Biden was at much higher odds. Public opinion continues to rapidly turn against Trump. This makes it safe to say that the current gap in the odds will increase in Biden’s favor.
New numbers for a few other online betting sites props have the Democrats listed as -125 favorites to regain control of the White House. The moneyline odds for the Republicans maintaining control are -105. The Democrats are heavy -450 favorites to win the popular vote in November’s election for president. The Republicans are now +300 longshots.
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