Presidential debate aftermath: Election gamblers bet on Biden
Political bettors have placed their money, if not their support, on former Vice President Joe Biden following the first 2020 presidential debate Tuesday night with President Trump, according to Cloudbet, a cryptocurrency betting site.
Before the debate, the betting markets had given Biden a 58 percent chance of unseating President Trump, according to the Bitcoin bookie. After the debate that had risen to 61 percent.
“Despite a few slip-ups, Biden’s odds have shortened,” Cloudbet tweeted after the debate Tuesday night.
Other betting markets reported similar gains for Biden, with Berenberg bank having him climbing up to 58.4 percent after the debate from 55.3 percent before, Fortune reported.
Biden’s odds had also climbed by 4.4 percent to 59.6 percent at Election Betting Odds.
In a news release announcing the shift in odds, Cloudbet said that 90 percent of the bets placed in the 24 hours leading up to the debate were on President Trump.
“If sports betting is unpredictable, betting on politics may even define the term,” Cloudbet said in a statement in May previewing 2020 election betting.
The debate, chaotic at times, saw the candidates repeatedly trade insults and speak over one another.
At one point, Biden called Trump “the worst president America has ever had.” At another, Trump declared that there is “nothing smart” about the former vice president.
According to a Fox News analysis, Biden interrupted Trump 49 times and the moderator, Fox News anchor Chris Wallace, 18 times for a total of 67 interruptions. Trump, meanwhile, interrupted Biden 71 times and Wallace 74 times for a total of 145 times.
It was so contentious that the Commission on Presidential Debates said Wednesday that “additional structure” would need to be added to the remaining debates.
Fox News’ Brooke Singman contributed to this report.