Donald Trump's 2024 election chances have soared since his speech to the Conservative Political Action Conference on February 28, bookmakers say.
The former president was met with rapturous applause at CPAC after he criticized Joe Biden's first month in the White House, saying it was "the most disastrous" of "any president in modern history."
In his speech, Trump once again refused to acknowledge that he lost the election last November and hinted that he might run in 2024. "Actually, you know they just lost the White House, I may even decide to beat them for a third time," he said.
The former president's odds were slashed after the conference in Orlando, Florida. In betting terms, odds being lowered means bookmakers think the chance of something happening has increased.
Last week, his odds for regaining the presidency in 2024 were 12-1, according to Bet Online, but these have improved to 7-1. The bookmaker found that Trump was the Republican most likely to win, followed by Florida Governor Ron DeSantis, whose odds fell from 20-1 to 12-1 after CPAC. The odds for South Dakota Governor Kristi Noem improved from 66-1 to 40-1.
The Democrats are still predicted to win the next presidential election, however, with Vice President Kamala Harris at 4-1 and Biden at 9-2.
Bookmaker William Hill also slashed Trump's presidential odds after the CPAC speech, from 12-1 a week ago to 7-1 on Thursday.
However, William Hill is tipping Harris to be the next president. Her odds are 7-2, followed by Biden at 4-1.
Among the GOP candidates, former Vice President Mike Pence comes runner-up to Trump, with odds of 10-1 at William Hill.
Bookmaker Ladbrokes improved Trump's odds of winning the Republican nomination in the run-up to the CPAC speech—from 5-1 to 3-1. Those odds have not changed since, but Trump's chances of regaining the presidency have improved, Ladbrokes said. He is 6-1 to win the 2024 election, having been 8-1 before CPAC.
Last week Trump's odds of winning the election were 9-1 at Betfair. That is now 7-1.
Trump's odds also improved after he was acquitted last month in his second Senate impeachment trial. Even though 57 senators, including seven Republicans, voted to convict Trump of inciting insurrection before the Capitol riots on January 6, a supermajority of 67 votes was required.
The former president faces several legal challenges related to his actions in office and his business dealings, which may prevent him from running again.
On Wednesday, former Secretary of State Mike Pompeo also hinted that he might run for the White House in 2024.
