Former President Donald Trump is now the current betting favorite to win back his old job in 2024, according to at least one major betting aggregator.
US-Bookies.com, a political betting aggregator website, has Trump in the lead for the first time since President Joe Biden assumed office in January (via press release).
Trump’s odds have improved from 13/2 (13.3% implied probability) to 7/2 (22.2%) since last week, where he’s now the sole favorite to win the election.
“In recent months, the 2024 election betting markets saw Kamala Harris and Joe Biden trading places as the favorite, but Trump’s recent surge puts him atop the list,” says a US-Bookies spokesperson. “At the same time, Biden failed to notice any changes to his odds, while Kamala’s have worsened.”
Last week, Kamala Harris was the 7/2 (22.2%) favorite to win the 2024 election, with Joe Biden following at 4/1. Since then, Harris’ odds worsened to 11/2, while Biden’s remain unchanged.
The website also has Republicans as the odds-on favorites to win back majority control of both the House and the Senate in November 2022.
The Republican Party is the 5/6 (54.5% implied probability) favorite to hold majority control of the Senate after midterms, and 2/5 (71.4%) favorites to win control of the House of Representatives. Democrats are 21/10 (32.3%) to win the Senate and 2/1 (33.3%) to win the House.
While Trump has yet to make an official announcement, he has been out and about giving speeches and making media appearances criticizing the failed policies of the Biden administration. Meanwhile, Biden's approval rating continues to sink to new lows as Americans become increasingly concerned about a lagging economy, inflation, rising fuel prices, an open border, Covid vaccine mandates, and other issues.
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