While most experts have regained Biden’s victory, Crypto Betting Operator CloudBet has so far acquired “hundreds of thousands of dollars” in US election bets.
At one point, the economist said there is a 90% chance that Biden will win more voting colleges than his rival, and that it is a 99% chance that Democrat candidates will win more votes.
In contrast, CloudBet said 85% of users have money for Trump, who will maintain the presidency. The company’s statement reads: “The irregular pattern has emerged.”
“There are several theories as to why this dichotomy exists. The gambling masses are probably more right footed, libertarians, and therefore are more likely to be on Trump’s base. Or that people still remember 2016 and don’t believe in the polls. At the time, the odds reached Hillary v +6.00, 1.14 against Trump. Could he do that again, against the odds at the time?”
CloudBet’s political page supports Biden’s victory using its own data on voting and betting odds. But while some have predicted Democrat cleaning at over 300 electoral universities, CloudBet is currently seeing The Team Biden claim 287 college votes.
State-by-state election maps, CloudBet graphics
While this number is a seemingly decisive victory, it has fallen sharply to the odds of bets that have been split for a week. Democrats were nearly 30 years old and were expected to win 316 college votes, while Republicans have tripled from a week before the expected 207 colleges.
CloudBet adds that other changes include emotional changes in swing states such as Florida. The company says that:
“The state looked obviously blue from a market perspective last week, partially driven by Donald’s attitude towards Covid and his comments on recovering from an illness that may have marginalized the state’s seniors.”
Since then, Trump has been campaigning twice in Florida, which appears to have brought the state back to swing status. In fact, CloudBet says that now supports two-thirds of Bitcoin bets on Florida’s outcome, which remains red.
