In a surprising turn of events, former President Donald Trump’s chances of winning the 2024 presidential election have reached their highest level ever, according to leading bookmaker Betfair. The Republican frontrunner secured a decisive victory in Tuesday’s New Hampshire primary, winning by 54.5 per cent to Nikki Haley’s 43.2 per cent, according to the Associated Press. This follows his overwhelming win in the Iowa caucus on January 15.
Following the Iowa results, Florida Governor Ron DeSantis, considered Trump’s closest rival, dropped out of the GOP race and endorsed the former president. Betfair now places the odds of Trump winning a second term in November at 21/20, giving him a 49 per cent chance of victory—the best odds he has had since the market opened for the 2024 presidential election.
Incumbent President Joe Biden trails behind with 34 per cent odds, marking a significant shift in the dynamics of the upcoming election. The two lead candidates are followed by Michelle Obama and California Governor Gavin Newsom, each with four per cent, and Nikki Haley and independent challenger Robert F. Kennedy Jr., each with three per cent.
Betfair spokesperson Sam Rosbottom commented on Trump’s rising odds, stating: “After winning in both the Iowa caucus and the New Hampshire primary, he has become the first Republican to win both in an open campaign in almost 50 years.” Rosbottom notes that punters have backed Trump into his shortest odds since the market opened.
The company reveals that $1.7 billion has been traded on Betfair’s exchange for the 2020 U.S. presidential election, with over $22 million worth of bets placed for the 2024 contest thus far.
Trump, not one to shy away from expressing his opinions, criticized Nikki Haley after his New Hampshire victory, asserting that she “didn’t win” and was merely doing a victory speech. Haley, however, remains in the race, emphasizing that New Hampshire is not the last state in the nation and stating that the race is far from over.
With Trump’s momentum building, the 2024 presidential election is shaping up to be a closely watched and highly competitive contest. As the former president continues to dominate the GOP race, political analysts anticipate further developments and shifts in the political landscape leading up to November.
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