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Odds flip in favor of Donald Trump with betting markets giving him 65% chance to win reelection

This is an exact repeat of what had happened 2016 election when Hillary Clinton had been tipped to win until halfway through when the betting markets switched back to a Trump victory

President Donald Trump has become favorite to win the US presidential election with the betting markets flipping worldwide while counting got underway earlier. Trump has now been placed at a 65% chance of winning reelection as per the latest odds. Earlier this morning, he was thought to have a 38% chance. 

This is an exact repeat of what had happened 2016 election when Hillary Clinton had been tipped to win until halfway through when the betting markets switched back to a Trump victory. Since early September, Trump has not been favored to win by the betting markets, Metro reports. 

The markets have favored Trump to win in key states of Ohio, Pennsylvania and Michigan. It had earlier been shown that an anonymous British businessman has reportedly placed a $5 million bet on Trump retaining the presidency. He could win almost $15 million which could be the biggest bet ever made on politics. 

The president's daughter-in-law Lara Trump, who is also a senior adviser to Trump's reelection campaign, believes the commander-in-chief will decisively beat his Democratic challenger Joe Biden and wouldn't need a protracted ballot count to secure his victory.

The wife of Eric Trump spoke on Fox News and said, "People have not been talking to pollsters, and we think it’s going to be a landslide victory and we aren’t even going to need to take this into further days." According to public polling and election, a Trump victory is quite possible. However, they predict that it is unlikely to be by the margins he earned in the 2016 election when he secured a whopping 306 electoral college votes.

Many social media users have commented on the news of the flip in the betting markets, with some saying it's not over yet. One such user shared, "No. It’s not over yet. Lots of votes left to count. Biden has 205 electoral votes." Another shared, "Trump only up 60-40 now in betting markets. They see Georgia as a problem for The Donald. One thing that appears obvious is that we will not have a winner tonight."

"THAT's how you view an election that could change your life--as something to BET on? What you're betting is your children's future," wrote another user. 

Yet another user had commented, "Incumbent President Donald Trump who thought wind turbines cause cancer is currently the favourite in the U.K. betting markets. #AmericaDecides2020 #ElectionDay #Election2020 #Election." Another chimed in and said, "The betting markets have Trump as the favourite, it feels like 2016 all over again & I think the betting markets changed to Trump’s favour at almost the identical time."

"Until yesterday, experts predicted Joe Biden was ahead by historical margins and would win huge despite a polling error. People who have put money on this (betting markets) are predicting a Donald Trump victory. Let's see whether the experts are right or ordinary people," commented another. 

We had earlier reported that even though major national polls show Democratic presidential nominee Joe Biden with a commanding lead over President Donald Trump in Elections 2020. A small group of pollsters has predicted that Trump might have even more shy voters in this election.

Robert Cahaly, who is from The Trafalgar Group, had predicted a Republican victory in 2016 after finding that Trump was leading in the key battleground states of Michigan and Pennsylvania. This year, Cahaly's analysis has again found a small lead for Trump in both of those states which contradicts all other major polls.