Betting markets give Trump slightly improved chances after debate

[October 23, 2020]    LONDON (Reuters) - U.S. President Donald Trump's probability of getting re-elected gained slightly on online betting markets following Thursday's final presidential debate.

Democratic presidential nominee Joe Biden and U.S. President Donald Trump participate in their second 2020 presidential campaign debate at Belmont University in Nashville, Tennessee, U.S., October 22, 2020. REUTERS/Jim Bourg/Pool/File Photo

Bettors on British exchange Smarkets give Democratic challenger Joe Biden a 66% chance of winning the Nov. 3 election, down from 68% before the the debate. Trump's chances improved to 34% from 32%.

Betfair also said Trump's odds improved on the same level following the debate, adding that punters spent over nine million pounds ($12 million) betting on the election over the last 24 hours.

The odds have narrowed since mid-October, but betting trends on gambling websites still predict a win for Biden. The former vice president has a substantial lead in national opinion polls, although the contest is closer in battleground states likely to decide the race.

The majority of big-money political betting occurs outside America as betting on politics is illegal in the United States.

(Reporting by Thyagaraju Adinarayan; Editing by Frances Kerry)

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