World News

Betting markets give Trump slightly improved chances after debate

FILE PHOTO: U.S. President Donald Trump answers a question during the second and final presidential debate at the Curb Event Center at Belmont University in Nashville, Tennessee, U.S., October 22, 2020. Morry Gash/Pool via REUTERS

LONDON (Reuters) - U.S. President Donald Trump’s probability of getting re-elected gained slightly on online betting markets following Thursday’s final presidential debate.

Bettors on British exchange Smarkets give Democratic challenger Joe Biden a 66% chance of winning the Nov. 3 election, down from 68% before thate. Trump’s chances improved to 34% from 32%.

Betfair also said Trump’s odds improved on the same level following the debate, adding that punters spent over nine million pounds betting on the election over the last 24 hours.

The odds have narrowed since mid-October, but betting trends on gambling websites still predict a win for Biden. The former vice president has a substantial lead in national opinion polls, although the contest is closer in battleground states likely to decide the race.

The majority of big-money political betting occurs outside America as betting on politics is illegal in the United States.

Reporting by Thyagaraju Adinarayan; Editing by Frances Kerry