• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

What are election betting odds? Expert explains why Trump is current favorite

by October 22, 2024
written by October 22, 2024

Former President Trump, the Republican presidential nominee, has opened up a sizable advantage in the election betting odds in recent weeks, giving Americans a new way of trying to piece together what might happen come Election Day.

‘More than two billion dollars have been bet on the election already,’ Maxim Lott, who runs ElectionBettingOdds.com, told Fox News Digital.

The comments come as Lott’s website, which uses data from five different betting sites to display a betting average, shows Trump has a 58.5% chance of winning the presidential election as of Monday.

Lott’s website isn’t the only one tracking the betting odds, with popular sites such as RealClearPolitics, which has become known over the years for tracking polling averages, joining the fray.

Like ElectionBettingOdds.com, the RealClearPolitics betting average shows Trump as the favorite with a 59% chance to win the election as of Monday.

Trump’s chances of winning the election have dramatically risen over the last few weeks, with his Democrat opponent, Vice President Harris, being the betting favorite on RealClearPolitics as recently as Oct. 4. But Trump took the lead the next day and hasn’t looked back, eventually rising to the nearly 20 percentage-point advantage the former president enjoyed on Monday.

For Lott, looking at betting averages gives people a much clearer picture of what the most likely outcome of the election is compared to trying to piece together polls.

‘These are really accurate, they’re more accurate than just trying to look at polls or especially more accurate than listening to pundits bloviating,’ Lott said.

‘[The bettors] look at all sorts of historical data, they look at trends,’ he added. ‘I find the percent more useful than the polls.’

Lott, who previously served as a program executive producer for the Fox Business Network, also noted that people risk their own money to make a bet on an outcome, creating a market that has the ability to ‘discipline people’ who get it wrong.

‘If you’re not very smart, or very biased, you’re going to lose your money pretty quickly, and then maybe you won’t bet again next election,’ Lott said.

While betting on elections is newer than more well-known gambling pastimes such as sports betting and casino games, Lott said the market has become robust enough to offer election followers a glimpse into what the most likely outcome will be.

‘Last cycle we had more than a billion dollars traded. That’s still [not] that much if you compare it to … the stock market or something, but it’s enough that we have a reliable indicator, and that’s what [is] important to us as users who just want to know what’s going to happen,’ Lott said.

As for Trump’s lead, Lott said it likely reflects an end to the ‘honeymoon period’ Harris enjoyed after being elevated as the Democrat nominee, noting that Trump had risen to around 70% likely to win the election before President Biden dropped his bid for re-election and has bounced back into the lead once again.

‘Things have kind of reverted back to the mean where – it is a tough cycle for Democrats with things like inflation and immigration, and so maybe for a couple months people were like, ‘Oh, Harris, this is interesting, this is new, this is refreshing,’ and then it’s kind of sinking in: ‘This is the same administration we didn’t like with Biden,’ Lott said.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Liz Cheney predicts ‘millions of Republicans’ will vote for Harris: ‘Vote your conscience’
next post
Microsoft to roll out new autonomous AI agents next month, fending off challenge from Salesforce

related articles

Federal judge to sentence Justice Brett Kavanaugh’s attempted...

October 3, 2025

Hawley blasts FDA approval of new abortion drug,...

October 2, 2025

Trump’s DOGE savings dwarfed by Medicare, Social Security...

October 2, 2025

FLASHBACK: James Comey urged officials to always prosecute...

October 2, 2025

The agency staff Vought might recommend cutting and...

October 2, 2025

Reagan-appointed judge, once rebuked by Supreme Court, continues...

October 2, 2025

‘Real consequences’: Food aid, flood insurance, FEMA funds...

October 2, 2025

Trump must triple severely outdated nuke arsenal to...

October 2, 2025

White House says federal layoffs could hit ‘thousands’...

October 2, 2025

Johnson shuts door on negotiating shutdown deal as...

October 2, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Crunch time: Harris to team up with Barack and Michelle Obama next week in key battlegrounds

    October 18, 2024
  • White House says Biden believes he made right decision to drop out of 2024 race despite Trump victory

    November 8, 2024
  • Trump blasts Biden’s DOJ: They tried to turn US into a ‘corrupt communist’ third world country

    March 14, 2025
  • Rheinmetall, BAE Systems and other European defence stocks surge as leaders push for higher military spending

    March 3, 2025
  • Hezbollah launches 30 rockets into Israel, no casualties reported: IDF

    August 12, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,248)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Top five clashes of the Harris-Trump presidential debate: ‘I’m talking now’

    September 11, 2024
  • I spent 36 years in prison for a crime I didn’t do. Trump’s early pardons are the right idea

    April 3, 2025
  • GM slows its EV plans again even as sales grow

    July 24, 2024

Recent Posts

  • Tulsi Gabbard faces next test in confirmation battle with key Senate hurdle

    February 10, 2025
  • Fetterman calls out ‘UN’s rank, pervasive antisemitism,’ says he looks forward to confirming Elise Stefanik

    November 18, 2024
  • Gold and silver: Gold shines at new highest levels

    August 21, 2024

Editor’s Pick

  • Oil advocates ‘skeptical’ of Harris pivot on fracking, but say her shift shows stance is a ‘winning issue’

    September 23, 2024
  • House Republicans fly down to Trump’s backyard for annual working retreat

    January 27, 2025
  • House Republicans worry even Trump can’t save them as tax cuts, budget bill hang in balance

    April 8, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock