Donald Trump drops to underdog after $67K wager on Joe Biden

Democratic presidential nominee Joe Biden has reclaimed his spot as the favorite over President Donald Trump at the London-based Betfair Exchange, which took a $67,000 wager on Biden at -105 to be the next president.

The wager is the largest yet on the 2020 election at Betfair, which reported taking $66,000 bets on Trump, the Republican nominee, and Biden last week.

Biden is now the -125 favorite and Trump the +110 underdog at Betfair.

Trump, the Republican nominee, had emerged as a slight betting favorite over Joe Biden last week for the first time since May at Betfair, which already has taken $100 million in wagers on the 2020 U.S. presidential election

“Donald Trump has dominated the betting in the last month but a new record stake has now been placed on Joe Biden, which will return a six-figure sum if he’s successful,” Betfair spokesperson Sam Rosbottom said in an email. “This just goes to show that despite the recent momentum for Trump, Biden is still far from out of the race and following the odds going neck and neck last week, the challenger is now starting to resume his advantage and is once again the odds-on favorite at (-125), which could be decisive with the first presidential debate only weeks away.”

The line is a pick’em (-110 on both sides) at William Hill sportsbook in the United Kingdom and Biden is -120 and Trump +103 at offshore sportsbook Pinnacle.

Betfair had made Trump an even-money favorite on Wednesday over Biden, who was a +105 underdog.

Betting on the election is not allowed at U.S. sportsbooks.

Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on Twitter.