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Just a day before the U.S. presidential election, the betting markets are showing a neck-and-neck race between the Republican contender, former President Donald Trump, and the Democratic candidate, Vice President Kamala Harris.

According to the latest figures from Oddschecker, Trump is currently given a 56% chance of winning, while Harris stands at 44%. These probabilities are derived from betting odds of 8/11 (-138) for Trump and 5/4 (+125) for Harris (see chart).

Trump’s lead in the odds has slightly diminished from the 60% support he garnered from bettors between October 2 and October 29. During the same period, Harris was at 47%.

“As we approach the final stretch before election day, we’re observing notable movements in the betting trends, particularly in the crucial swing states,” says Leon Blackman, a representative for Oddschecker in the UK, which aggregates data from 80 betting platforms.

“Trump’s position as the favorite in the overall odds aligns with the consistent pattern we’ve tracked throughout October. However, Harris has seen a significant uptick in betting support, especially in key battlegrounds like Michigan and Pennsylvania,” Blackman continues.

In these pivotal states, Republican candidates are seeing increased betting backing in Arizona and Nevada. North Carolina and Pennsylvania are holding steady, with Republicans maintaining a narrow advantage.

Michigan and Wisconsin are the only two states where Democrats are currently favored by bettors. Meanwhile, in Georgia, the Republicans’ chances have slightly declined (see chart).

The Betfair Exchange has witnessed over $220 million traded on the outcome of the U.S. presidential race, making it the second most heavily bet political event in history, following the 2020 U.S. election, which saw a record $2.6 billion wagered.

{Matzav.com}