Andrew Yang's Chances of Becoming New York City Mayor, According to Bookmakers

Andrew Yang, the Silicon Valley millionaire who ran for the U.S. presidency in 2019, is leading the pack in betting odds to become New York City's next mayor.

The primaries for the mayoral election—where Yang will be up at least another 32 candidates—are due to be held on June 22. The election will follow on November 2, where Bill de Blasio, the 109th mayor of New York City since 2014, will pass on the mantle.

U.K. bookmaker Ladbrokes gives Yang 2-1 odds to win the mayoral contest, with Scott Stringer following behind at 3-1, Eric Adams at 4-1, Raymond McGuire at 6-1 and Maya Wiley at 10-1 at time of writing.

Meanwhile, Betfair gives Andrew Yang a 5-2 shot to be next New York Mayor. It gives Adams 15-8, Stringer 7-2, Wiley 16-1 and McGuire 20-1.

The tech entrepreneur is leading the way on Betway, with 5-4 odds, followed by Adams and Stringer tied at 3-1, McGuire at 7-1 and Wiley at 9-1.

Online bookie Bovada also places Yang as favourite at +175, followed by Eric Adams at +250, Scott Stringer at +400, Raymond McGuire at +525 and Maya Wiley at +900 as of January 6.

Yang announced his run on Wednesday, his 46th birthday. "I moved to New York City 25 years ago," he said in a Twitter message. "I came of age, fell in love, and became a father here. Seeing our City in so much pain breaks my heart. Let's fight for a future New York City that we can be proud of—together."

"We'll bring New York City into the 21st century by getting everyone high-speed internet, so our kids can learn, hire more teachers and reduce the class sizes. I think that makes a big difference. It's hard to know when you have a class of 30 kids," Yang said in a video posted with the message.

"We'll take back control of our subway, and create a People's Bank so it stops being so expensive to be poor."

Yang also voiced his support for a guaranteed minimum income in the video. He has also stressed the need for police reforms in the wake of the killing of George Floyd, including making body cameras mandatory for officers.

He is pushing for New York City to invest in a human-centred economy and create an accessible health care system, according to his official campaign website. The entrepreneur also pledged to develop technology to track which city residents have received a coronavirus vaccine and help rebuild the city's nightlife as it recovers from the pandemic.

Yang surprised the public in November 2017 when he entered the Democratic presidential primary as an outsider with no political experience. In November 2019, he dropped out the race before endorsing President-elect Joe Biden.

Andrew Yang addresses Democrat convention
Businessman Andrew Yang addresses the virtual 2020 Democratic National Convention on August 20, 2020. Several bookmakers have put Yang as frontrunner to win the New York mayoral election in November. Handout/DNCC/Getty