Former President Trump, the Republican presidential nominee, has opened up a sizable advantage in the election betting odds in recent weeks, giving Americans a new way of trying to piece together what might happen come Election Day.
“More than two billion dollars have been bet on the election already,” Maxim Lott, who runs ElectionBettingOdds.com, told Fox News Digital.
The comments come as Lott’s website, which uses data from five different betting sites to display a betting average, shows Trump has a 58.5% chance of winning the presidential election as of Monday.
Lott’s website isn’t the only one tracking the betting odds, with popular sites such as RealClearPolitics, which has become known over the years for tracking polling averages, joining the fray.
Like ElectionBettingOdds.com, the RealClearPolitics betting average shows Trump as the favorite with a 59% chance to win the election as of Monday.
Trump’s chances of winning the election have dramatically risen over the last few weeks, with his Democrat opponent, Vice President Harris, being the betting favorite on RealClearPolitics as recently as Oct. 4. But Trump took the lead the next day and hasn’t looked back, eventually rising to the nearly 20 percentage-point advantage the former president enjoyed on Monday.
For Lott, looking at betting averages gives people a much clearer picture of what the most likely outcome of the election is compared to trying to piece together polls.
“These are really accurate, they’re more accurate than just trying to look at polls or especially more accurate than listening to pundits bloviating,” Lott said.
“[The bettors] look at all sorts of historical data, they look at trends,” he added. “I find the percent more useful than the polls.”
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