National election polls of registered voters point to a potential matchup of Donald Trump and Joe Biden for the 2024 presidential election, which would mark a rematch of the 2020 presidential election.
The most recent betting odds support this potential rematch with Trump and Biden among the two biggest betting favorites.
What Happened: The 2024 election has been seen as a potential three-person race between Biden, Trump and Florida Gov. Ron DeSantis for many months. The drop in voter support for DeSantis has been a big storyline and now sees the Republican candidate ranking seventh in betting odds for the 2024 presidential election.
The latest betting odds came after the first two Republican primary debates, which were skipped by Trump. The former president also skipped a third Republican debate.
Trump is also part of several ongoing and upcoming trials and took the witness stand in a civil fraud trial against himself and the Trump Organization prior to the latest betting odds.
U.S. residents can't actively bet with online sportsbooks on who the next president will be. Sportsbooks such as DraftKings Inc (NASDAQ:DKNG) are live in Ontario and offer betting for residents of Canada. Foreign sportsbooks in Europe and other markets may also offer betting on the 2024 election.
DraftKings CEO Jason Robins told Benzinga earlier this year he hoped someday political betting on big races such as president will be allowed in the U.S.
Here's a look at the latest betting odds from Bet365 as provided by Covers with odds from Nov. 12 along with previous odds from past months.
|Name||Nov. 12, 2023||Oct. 3, 2023||Aug. 24, 2023||Aug. 2, 2023||June 2023||May 2023||April 2023||February 2023||November 2022|
|Robert Kennedy Jr.||+1600||+1400||+1600||+900||+1200||+1400||+10,000||N/A||N/A|
Along with the odds for the 2024 presidential election, Bet365 also has odds for the Republican nomination with the following candidates and their past odds in October.
Trump: -500 (-334)
DeSantis: +800 (+700)
Haley: +800 (+1,200)
Ramaswamy: +2800 (+1100)
Here are the odds for the Democratic party nomination:
Why It's Important: Trump finds himself once again topping the betting odds for a second straight month. Trump's odds improved from +150 to +137 from October to November with the 2024 presidential election officially less than a year away.
Biden continues to rank second with odds of +200, which comes after he was the favorite back in August and for several months.
Outside of the top two candidates, Democratic California Gov. Gavin Newsom ranks third, despite not being a current candidate in the race.
While Newsom hasn't declared a run against Biden for the Democratic party nomination, he will take part in a planned debate with DeSantis that will air on Fox News, a unit of Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA).
The event, which is being called "The Great Red vs. Blue State Debate," will take place on Nov. 30 beginning at 9 p.m. ET and last for 90 minutes.
A strong reception for Newsom could lead to more interest in him running in the 2024 election.
After months of soaring up the polls and betting odds, Vivek Ramaswamy dropped down to +6,600 in the odds and is ranked ninth.
DeSantis holds steady with odds of +2,000 in November, the same he held in October. The betting odds, which see the Florida governor ranked seventh, are a far cry from being the betting favorite in months past with odds of +225 to +300.
Former South Carolina Governor Nikki Haley continues to gain in the betting odds, which comes as she has gained support in recent election polls. Haley is listed at odds of +1,200 ranking fourth in the betting odds. Haley had odds of +2,000 in October and odds of +5,000 in August. Haley held 9% of support from Republican voters in the latest Morning Consult weekly poll.
Michelle Obama, wife of former President Barack Obama, moves down the betting odds listed at +1,800 and ranking sixth. Obama has never said she was interested in running, but many point to her being a strong candidate if Biden were to drop out of the race.
Robert F. Kennedy Jr., who announced he would end his run for the Democratic nomination to run as an Independent, ranks fifth with odds of +1,600, in-line with recent months.
With Mike Pence and Tim Scott dropping out of the presidential election race, the pool of candidates running continues to shrink and could impact the overall betting odds going forward.
Republican candidate Chris Christie, who is still in the race, is listed with odds of +10,000, which come as he has hovered around 2% to 3% of support from Republican voters in recent polls.
On the prediction marketplace, PredictIt, Trump has passed Biden ranking first at 39 cents, followed by the current president at 38 cents, Newsome at 13 cents and Haley at 8 cents. On PredictIt, the winner pays out $1 for each market.
For the GOP nomination, Trump leads on PredictIt at 75 cents, followed by Haley at 18 cents, DeSantis at 8 cents and Ramaswamy at 4 cents. This marked a gain for Trump, Haley and DeSantis and a drop for Ramaswamy from October.
Among Democrat candidates on PredictIt, Biden is listed at 67 cents, dropping from 70 cents in October. Newsom and Harris are ranked second and third at 24 cents and 7 cents respectively.