The latest US election odds show Joe Biden has received substantial support in the past 48 hours and he is now rated a 64% chance to win the presidency.

With less than a fortnight to go before the election on November 3 Biden is being backed to become America’s 46th president. The odds on Donald Trump winning a second term have drifted to 7/42.76.

Based on the Exchange’s state betting markets Biden is predicted to win 305 electoral college votes, with Donald Trump picking up 233. The threshold for victory is 270.

US elections are always great betting events but 2020 is proving to be the biggest of all by some distance.

Overnight the amount bet on this year’s election reached £150m on the Exchange and Betfair spokesperson Sam Rosbottom said:

“The betting trends indicate that £300m or more will be bet on who will win. The current total bet is double the £75m staked at this stage four years ago, which means the 2020 election is on-course to become the biggest single betting event of all time by eclipsing 2016’s £199m.”

How is the money divided between the candidates?

“Whilst more money has been bet on Trump, it could be telling that the 10 biggest stakes are all on Biden,” said Rosbottom.

There are sure to be more market moves, and news from the campaign today, so follow the daily election thread on Twitter:

As reported yesterday Trump may be far from favouritism in the betting but he’s still in a more promising position than he was at this stage four years ago.

Tomorrow night the candidates will face each other in the final televised debate of the campaign. For Trump the debate will be an opportunity to make inroads into Biden’s lead while the challenger will look to consolidate his position.

For today’s bet of the day, Paul Krishnamurty is recommending you get behind Biden in the Badger State.

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