Updating its ‘US National Election’ market, Betfair has detailed that Republican candidate Donald Trump has hit his ‘lowest exchange’ price at 2.9. The Betfair exchange now gives Trump a 34% chance of winning the US Election on 8 November.
In favour of Trumps White House quest, last week Hilary Clinton had to pause her presidential campaign temporarily due to illness.
Furthermore, the Democrat candidate’s electoral margin has been impacted by independent ‘third-party’ runners Gary Johnson (Libertarian candidate) and Jill Stein (Green Party).
The Clinton campaign has received further bad news, as new polls have registered that the presidential race has tightened in key ‘swing states’, with Trump tying Clinton in Iowa, Michigan, Ohio, Colorado and Virginia.
A week of negative headlines for Camp Clinton, would see £5 million traded on the Betfair market taking total wagering on the 2016 US National Election to £39 million.
Naomi Totten, Spokesperson for Betfair, said:
“Donald Trump hit a low of 2.86 this morning, around a 35% chance, with Hilary Clinton now trading at 1.62 or a 62% shot. With just over seven weeks till Election Day, the Next President market alone has nearly surpassed the £40m traded overall across all Presidential Election markets in 2012.”
“Political markets usually pick up pace in the two weeks prior to the main ballot day but the Next President market has traded a staggering average of around £500k a day in September, with £1.5m traded on Sunday alone, and could easily be set to break the £127m record set by the EU Referendum earlier this year.”