Trump's Chances of Winning Election Almost Double What His Odds Were Before 2016 Upset

Donald Trump has a significantly higher chance of winning the 2020 US election than he did in 2016, bookmakers say.

In fact, Trump's chances of clinching a second term in office are almost double what his odds were this time four years ago.

Just one day before polls opened in 2016, the soon-to-be president was given an implied probability around 18 percent of securing a win against rival Hillary Clinton, leading UK bookmaker Betfair told Newsweek.

At the time, Clinton was heralded as the clear odds-on favorite with an 83 percent chance of victory.

Like Clinton, Biden is pegged as the bookmakers' odds-on favorite heading into the 2020 election.

With one day to go until polls open, Betfair Exchange gives the Democrat a 66 percent implied probability of clinching victory ahead of Trump a roughly 35 percent chance.

It is a similar story with Oddschecker, which aggregates betting data from dozens of bookmakers, who gave Biden a 65.23 percent chance ahead of Trump's 34.78.

"Donald Trump's odds of 2-1 put him in a significantly better position than he was in four years ago before he produced a stunning upset to beat Hillary Clinton," Betfair spokesperson Sam Rosbottom told Newsweek.

"Joe Biden's team are clearly taking nothing for granted despite him being the 1-2 favorite and the latest state odds suggest some of the key battlegrounds visited today are too close to call."

Despite online polls painting Democrat Biden as the clear favorite, bettors have been happy to take on the oddsmakers, seemingly confident of an upset next week.

Indeed, the worse odds that bookmakers give Trump, the more bettors clamor to back him.

It appears that Biden's dominance in the betting isn't deterring online bettors backing the incumbent for a second run in office.

The majority of bettors appear to believe the 2020 election will follow the same pattern as 2016's shock result.

Like Biden, Clinton was the bookmakers' favorite heading into the 2016 election.

Even though the odds were stacked against him, 61 percent of wagers on the 2016 election were placed on Donald Trump.

Trump's 2016 election odds implied he had only a 16.7 percent chance of winning in late October but 47.6 percent of wagers were placed on Trump in the same month, Oddschecker reports.

Biden has been the betting favorite to win the 2020 Presidential election since May.

Trump polls
Trumps’ chances to clinch a second run at presidency have slid over the months from August to October, however the president has remained undeterred. Mark Wilson/Getty