Bookies Suspend U.S. Presidential Markets

Jake Cooper - 05 Oct 2020

If there’s any lesson learnt from the recent sequence of news headlines coming out the White House, then it’s that 2020 isn’t quite done sowing mayhem and uncertainty yet. And aside from everything else, President Donald Trump and first lady Melania’s recently announced diagnosis have thrown betting lines the world over into a complete state of chaos. So much so, that multiple bookmakers the world over have suspended their betting markets for November’s U.S. presidential election with immediate effect.

The really tricky part now is of course to try and figure out what the knock-on effect of the announcement will have not only on current odds, but also in terms of developing odds. Due to the unpredictable trajectory of the Trump and his first lady’s condition, it’s becoming more difficult to predict an accurate outcome with every minute that passes during these initial moments in time. And the bookies realise this better than anyone.

Suspending Is Nothing Strange

Even so, temporarily suspending volatile betting markets is a standard procedure. Further updates will determine the road from here on out, explains a prominent spokesperson associated with Ladbrokes.

Other prominent bookie betting brands to have put a temp-hold on the U.S. election markets include Bodog, Betfair, and Paddy Power. Most bookmakers have along with their bet-suspend announcements wished the president and his first lady a speedy and full recovery.

The problem with pushing through on the bet-lines at this stage of the game is that there exists too many variables, explains Shaun Anderson, who is a spokesperson for Australian betting operator TAB. The uncertainty, had the markets remained open, would effectively have killed off the majority of the value in every direction.

Volatile Even Without A Crisis

Politics has become exceptionally popular a market – especially in recent years. And this has proved true the entire world over. So much so, that many bookies have by now joined the politics-betting train.

As far as the story so far this year is concerned, it had been Joe Biden to lead the favourites list in the election race so far – and this has been true for quite some time. Previously running ahead at a 56 per cent advantage, Biden following the first presidential debate saw his ratings hike even further, to a 60 per cent lead over Donald Trump.

With that having been said, a very similar situation went down during the weeks leading up to Trump being elected as president back in 2016. Hillary Clinton led that particular odds race as a strong race-favourite.

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