Thu Nov 07 12:20:00 UTC 2024: ## Trump Surges on Betting Sites as Election Results Roll In
Early Wednesday morning, betting sites saw a dramatic shift in favor of former President Donald Trump, with bettors becoming increasingly confident of a Trump electoral victory despite many key swing states still counting votes.
As of 1:30 a.m. EST, major betting platforms like Polymarket, Kalshi, PredictIt, Robinhood, Betfair, and Smarkets all showed a significant lead for Trump, with odds ranging from 97% to 99% in his favor. This marks a stark contrast to earlier predictions, which had placed Trump and his opponent, Vice President Kamala Harris, at roughly equal odds.
The surge in betting activity comes despite the fact that North Carolina and Georgia—both states that Trump won—were the only two of seven crucial battleground states that had been called by the Associated Press as of 1:30 a.m. EST. The New York Times, however, had declared Trump “likely” to win the election, with a 95% chance of victory, based on its live presidential forecast.
While the betting market’s strong tilt towards Trump has sparked debate, some analysts point to the fact that bettors are financially incentivized to wager on the candidate most likely to win. Others, however, remain skeptical, arguing that the pro-Trump demographic among bettors could be skewing the results.
Regardless of the explanation, the dramatic shift in betting odds reflects a growing sense of confidence among bettors that Trump will emerge victorious in the 2024 Presidential Election.
First Piper 