Betting Odds On Donald Trump Vs. Joe Biden Tighten After Republican National Convention

After being a considerable underdog for months, President Donald Trump's odds of winning the November election improved in the wake of the Republican National Convention.

Hours after Trump officially accepted the Republican nomination, the betting website BetOnline gave the incumbent and Democratic nominee Joe Biden the same odds to win the presidential election. Both candidates have -110 odds as of Friday morning.

Bovada makes Biden a slight betting favorite with -125 odds. Trump is a +105 underdog at the online sportsbook.

Placing a $100 wager on either candidate at -110 comes with a potential profit of $110. A bettor who put a $100 wager on Biden at -125 odds could make $80. A $100 bet on Trump at +105 would result in a $105 profit if the president gets re-elected.

Trump’s odds have steadily improved since Kamala Harris was added to the Democratic ticket. Biden went from a -155 favorite to a -135 favorite at BetOnline in the immediate aftermath of naming his vice president.

“We first noticed the tides changing when Harris was officially named as the VP nominee,” Dave Mason of BetOnline told Forbes. “That trend continued as the Democratic Convention went on, with it appearing that bettors are starting to lose confidence in Joe Biden’s Presidential Campaign.”

A little over a month ago, Biden was a -190 favorite to defeat Trump.

A recent CNBC poll found that Trump was gaining ground on Biden in swing stakes as likely voters had fewer concerns about the coronavirus. Biden still has the edge in those six states.

The latest model from FiveThirtyEight gives Biden a 70% chance to win the election.