2024 Election Betting Odds Prior To Ron DeSantis Announcing Candidacy

The 2024 U.S. presidential election is over a year away, but remains one of the biggest topics across the news cycle. A potential rematch between former President Donald Trump and current President Joe Biden is among the biggest topics— but several other candidates are ready to fight for the top role in the White House.

What Happened: The 2024 election is widely seen as a three-person race with Joe Biden as the leading contender for the Democrat nomination and Trump battling with Florida Gov. Ron DeSantis for the Republican nomination. DeSantis officially announced his candidacy for the 2024 election Wednesday.

U.S residents can’t actively bet with online sportsbooks on who the next president will be. Sportsbooks such as DraftKings Inc DKNG are live in Ontario and offer betting for residents of Canada. Foreign sportsbooks in Europe and other markets may also offer betting on the 2024 election.

DraftKings CEO Jason Robins told Benzinga earlier this year that he hopes someday political betting on big races like president are allowed in the U.S.

“It’s more popular than you might think outside the U.S., a lot of people around the world, particularly in our neighbor in Canada, pay attention,” Robins said.

Robins said DraftKings would work with regulators to get election betting approved for states that offer legalized betting.

“I think it if were in the U.S., it would be even bigger. I don’t see any particular reason not to allow for election betting in the U.S.”

Here’s a look at the latest besting odds from Bet365 as provided by Covers with odds from May 13, 2023, along with previous odds from the months of April 2023, February 2023 and November 2022.

Joe Biden: +150, +175 (April), +250 (February), +550 (November)

Donald Trump: +240, +250, +350, +330

Ron DeSantis: +450, +350, +300, +225

Robert Kennedy Jr.: +1400, +10,000, N/A, N/A

Kamala Harris: +2800, +2500, +1800, +1200

Michele Obama: +3300, +4000, +3500, +3500

Nikki Haley: +3300, +3500, +2000, +2800

Gavin Newsom: +3300, +4000, +2000, +1400

Pete Buttigieg: +4000, +3300, +3500, +2500

Mike Pence: +5000, +6000, +3500, +2000

Tim Scott: +6000, N/A, N/A, N/A

Gretchen Whitmer: +6600, +6600, +3500, N/A

Vivek Ramaswamy: +8000, +10,000, N/A, N/A

Related Link: MAGA ETF Founder Is Backing DeSantis Over Trump, 'I'm In For DeSantis This Time' 

Why It’s Important: Biden continues to lead the way in the latest betting odds for the 2024 presidential winner. This of course comes with the strong likelihood that Biden gets the Democrat nomination.

A potential intense matchup between Trump and DeSantis could see the odds improve once a candidate is seen as the overwhelming favorite.

Trump has begun distancing himself in polls with a 43-point lead over DeSantis in a recent Morning Consult study.

DeSantis officially announcing his candidacy could have an impact on the betting odds and improve his current standing at +450, but Covers sports betting analyst Rohit Ponnaiya told Benzinga previously this might not be the case.

“The high likelihood that he will announce is baked into his odds so I wouldn’t expect to see much movement,” Ponnaiya said.

Ponnaiya said that DeSantis isn’t “afraid of a possible confrontation with Trump.”

For Biden, the odds likely imply that he will get the Democrat nomination and others would likely see only small boosts if they officially announce their candidacy, naming Harris, Whitmer, Buttigieg and Obama, previously.

“A sitting president has never been defeated by a primary challenger, so it appears that the Democrat party won’t be changing horses midstream.”

On prediction marketplace Predictit, DeSantis enjoyed a boost Wednesday as his candidacy announcement was expected.

For the GOP nomination, DeSantis jumped two cents to 37 cents, behind leader Trump at 56 cents. On PredictIt, the winner pays out $1 for each market.

For the 2024 president odds, DeSantis gained three cents to 26 cents, trailing Biden at 43 cents and Trump at 31 cents. Both Biden (-1 cent) and Trump (-3 cents) saw a drop on Wednesday.

The next updated betting odds could show how important the official announcement from DeSantis was and also if there is a growing impact of his ongoing battle with Walt Disney Co DIS.

DeSantis saw his odds decline from April to May and it could be as a result of his fall in polls and Trump’s growing lead or due to growing concerns that DeSantis is too focused on beating Disney and not worried enough about his campaign.

Read Next: Team Trump Mocks Ron DeSantis For Picking Elon Musk Over People To Launch 2024 Campaign 

Photo: Shutterstock