The 2022 midterms may have had a large impact on the betting odds for the next president of the United States. The Nov. 8 election decides control of the U.S. House of Representatives, the U.S. Senate and gubernatorial races across the country. Here’s a look at the latest betting odds for the 2024 presidential contest.
What Happened: One of the biggest races Tuesday was for Florida's governor, with Republican Ron DeSantis seeking re-election. DeSantis won the election by a wide margin and increased his status on a national level and also in the eyes of the betting market.
DeSantis is expected to run as a Republican candidate for the president in the 2024 election.
Former President Donald Trump, who was defeated in 2020 by current President Joe Biden, is expected to announce his candidacy later this month. Trump running for president could bring Digital World Acquisition Corporation DWAC, which has a pending merger with his media company, even further into the spotlight. The SPAC merger has a provision in place that Trump could remain in control of the company even if elected president.
Biden is also expected to announce his intent to run for re-election in 2024.
The three above mentioned parties are expected to be the favorites for the election and have been the betting favorites over the last several months.
The U.S. does not offer betting on elections on sports betting platforms. Website PredictIt offers a form of betting via outcome prediction wagering. The United Kingdom has offered betting on elections for years. DraftKings Inc DKNG offers betting on the U.S. elections in Canada.
Updated Betting Odds: New betting odds from DraftKings show the convincing win by DeSantis have helped improve his position in the betting odds. Here are the odds from DraftKings in Canada.
- Ron DeSantis: +225
- Donald Trump: +330
- Joe Biden: +550
The odds improved from +300 to +225 in around a week for DeSantis. Trump was previously the favorite at odds of +300 but fell behind the Florida governor after the election.
In late August, Trump had risen as high as a +275 favorite, followed by DeSantis at +300 and Biden at +600. The two Republican candidates were seen as likely beating Biden, who saw his approval rating decline.
Back in June, the Smartkets betting exchange in the United Kingdom had Trump with odds of +275, significantly ahead of Biden at +550 and DeSantis at +600. The odds several months later show how much DeSantis has risen and how close the race is.
DeSantis has steadily gained since the 2021 inauguration and went from being outside the top 10 for odds all the way to the favorite. DeSantis had odds of +6,600 a year ago.
It's likely not helping Trump that some of his endorsed Republican candidates lost in the midterms.
British political bookmaker Ladbrokes has Trump as the favorite at odds of +300, followed by DeSantis at +350 and Biden at +550.
888sport also lists Trump as the current favorite at odds of +310. DeSantis ranks second at +333, followed by Biden at +450.
Bet365 has DeSantis at +400 followed by Trump at +440 and Biden at +550.
One place where U.S. residents can get in on the action is PredictIt, an online prediction market. The site pays out $1 to the winning entry in several contests. Here are the odds for 2024 President:
- DeSantis: 32 cents
- Trump: 28 cents
- Biden: 24 cents
DeSantis gained 2 cents recently, with Biden also gaining 2 cents. Trump lost 1 cent in the latest rankings.
Related Link: Trump Warns Freshly Re-elected Governor DeSantis Against Running For President In 2024: 'He Could Hurt Himself Badly'
The Other Candidates: Outside of the top three candidates for president, the rest of people that could be running or people want to see run have odds of over +1,000 at many of the books.
Here are the other notable names on DraftKings betting odds:
- Kamala Harris: +1,200
- Gavin Newsom: +1,400
- Mike Pence: +2,000
- Pete Buttigieg: +2,500
- Nikki Haley: +2,800
- Michelle Obama: +3,500
- Dwayne Johnson: +4,000
- Hillary Clinton: +5,000
- Elizabeth Warren: +5,000
The biggest loser in the 2024 election odds over the last few years has been Harris. With Biden originally saying he would be president for one term, the vice president was seen as a frontrunner for 2024.
Odds for Harris were at the top of the betting odds at +350 after the inauguration, followed by Biden at +400 and Trump at +650.
Another big decliner is Alexandria Ocasio-Cortez, who had odds of +3,300 earlier this year and is now sitting with odds of +6,500.
On PredictIt, outside the three favorites of DeSantis, Trump and Biden, Harris is listed at 8 cents, followed by Newsome at 7 cents and Buttigieg at 6 cents.
It wouldn’t be a presidential election in recent history without a celebrity being given odds for the White House. In the 2022 election it was Kanye West who ran as a presidential candidate. DraftKings and other platforms are giving odds to actor Dwayne “The Rock” Johnson at +4,000. The Rock has not announced plans to run but has shown past interest in politics.
Read Next: Hillary Clinton Tells All: Will She Run In 2024? Can Any Republican Challenge Donald Trump?
Photo via Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
