Bidens odds of re-election plummet after dismal debate performance, betting markets show

President Biden tanked his odds of serving a second term in the White House Thursday after his poor debate performance against former President Donald Trump, according to data from political betting markets. The 81-year-old president’s chances of re-election plummeted 15 points in the aftermath of the CNN debate, one betting website, PredictIt.org, showed. The site, which allows users to buy stock in a candidate’s chances of winning the November race, showed Biden at 48 cents per share – the equivalent of a 48% chance of victory – prior to the debate and at only 33 cents per share afterward. Meanwhile, Trump’s stock on PredictIt peaked at 61 cents per share in the early moments of the debate before settling at 58 cents after.

The 78-year-old came into the debate with a 53% shot at the White House, according to the website’s data. On another betting website – BetOnline.ag – Trump started the debate as a -150 favorite and improved to -175 when the dust settled. Biden, who started the night as a +130 underdog, saw his odds fall to +300 (or 3/1) after the debate, according to BetOnline. The company noted that it also saw numerous wagers placed throughout the debate on possible alternative Democratic candidates.  “We just kept taking bets over and over again on Gavin Newsom and Michelle Obama,” BetOnline political oddsmaker Paul Krishnamurty said in a statement. California Gov.Gavin Newsom’s odds improved from 25/1 pre-debate to 7/1 post-debate and former first lady Michelle Obama’s odds jumped from 22/1 to 16/1, according to BetOnline.Newsom and Obama have both repeatedly claimed to have no interest in running for the White House this cycle. ...