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Biden Favored To Win 2020 Election, But Do The Betting Odds Really Matter?

presidential election betting in NJ

It has been a bit of a rollercoaster ride for former Vice President Joe Biden from when he announced he’s running for President of the United States and through the primaries, but he now appears to be in the driver’s seat to win the Presidency.

According to Bet365, the Democrats are at -135 to win the 2020 election, Republicans are at +115 and Independents are at +10000.

Biden is also a -125 favorite when you include specific names into the mix – not just parties – while incumbent President Donald Trump is at +115.

Is it legal to bet on the US Presidential Election in NJ?

No. Not yet.

Although there are live betting odds on the 2020 Presidential Election, it is currently illegal to place real-money wagers on any political race in NJ.

FanDuel Sportsbook actually posted political betting odds to their West Virginia customers in April after they reportedly received approval from the West Virginia Lottery, but that was immediately shut down.

PlayNJ even reached out to the New Jersey Division of Gaming Enforcement (DGE) for a statement, and they wouldn’t budge.

 “The Division of Gaming Enforcement has not permitted wagering on political events as a matter of public policy.”

Will Presidential Election betting become legal in NJ?

Probably not. And not just NJ betting, we’re talking the entire USA! At least not for the 2020 election. Although the DGE approved Oscar & Emmy betting in NJ, political gambling is a bit more complicated.

John Holden of Legal Sports Report, explains why.

“Wagering on political markets is explicitly prohibited by statute in a number of states, and most states have found it incompatible with public policy in another of other places,” Holden said.

But crazier things have happened. At least there’s still hope for 2024 presidential election betting in NJ… right?


Plenty Of Chaos

donald trump election odds 2020

Biden’s main argument for being president is that he’s simply not Trump. What that means is that he’s going to bring back what we had before, which is what many people would view as normal.

However, it will be interesting to see whether that’s enough. The right-wing part of the country isn’t up for that and a big part of the progressives – the far left – want to see radical change and not just a turn to how things were.

At any rate, it feels like there’s plenty of chaos these days with protests, riots, the COVID-19 pandemic, issues with China, battles for tax returns, and more. For Trump, he seems to be able to handle this just fine but a portion of the country considers this chaos compared to previous presidencies. It seems like Biden’s main selling point is that he’ll calm things down a bit.

It’s All About The Economy

There are going to be a number of narratives in play in the 2020 Presidential Election but it likely comes down to one or two things. The main one is the economy.

If the economy does recover as Trump has suggested and we do start to see more impressive jobs reports, that’s likely going to be enough to earn him reelection. Traditionally speaking – and nothing about 2020 has been traditional – incumbents are hard to unseat when the economy is strong.

If we start to go through the summer and move into the fall, and the economy is either tepid or slowly recovering, that will probably be the end of Trump. One of his main selling points is that he’s a businessman and knows the economy.

If that’s not working for him, he’ll have a tough time.

The other key to the 2020 election is likely the COVID-19 pandemic. If it is, in fact, receding and the United States is through the worst, that will be a big boost for Trump.

If we do see a second wave of the virus continues to linger into the election season, that’s going to hurt Trump’s chances significantly.

Can Biden Avoid Bungling It?

joe biden election odds 2020

One of the biggest challenges with Biden is that he’s been really shaky as a candidate. He seems to have some gaffes that really hurt and he really struggled to fight back in the primary season when Senators Kamala Harris and Cory Booker – and others – went after him.

Trump hasn’t really turned his attention to Biden yet but he will at some point soon. Biden is going to have to be as sharp as ever because if he’s not, the key independents might worry that he’s not the right person for the job.

Other US Candidates In The Mix

Even though the race appears to be down to Biden and Trump, there are a bunch of other names on the board too.

  • Hillary Clinton is not even running but she’s on the board at +3000.
  • Current Vice President, Mike Pence, is on the board at +5000.
  • Michelle Obama is at +8000
  • Nikki Haley is at +8000
  • Current New York Governor Andrew Cuomo is at +8000.

2020 has been a wild ride, so don’t be shocked if we see another crazy plot twist along the way and one of these other candidates gets thrown into the race.


Presidential Election Odds 2020 (UPDATED July 12, 2020)

Candidate bet365 odds
Joe Biden (D) -110
Donald Trump (R) +105
Hillary Clinton (D) +3000
Mike Pence (R) +5000
Andrew Cuomo (D) +8000

 

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