- Joe Biden announces official intent to run for reelection in the 2024 Presidential Election.
- According to Bovada, Biden has the best odds to win, but his lead continues to dwindle.
- Former President Donald Trump is favored to represent the GOP in Presidential Election.
President Joe Biden has officially announced his reelection bid for the 2024 Presidential Election. In the midst of claims that Biden is too old, the 46th President of the United States will run for a second term in the White House.
The 80-year-old is on a collision course for a rematch with the 45th President of the United States Donald Trump according to the 2024 Presidential Election odds at Bovada. Trump is projected to be Biden’s opponent by the online betting site.
This is despite the former president being embroiled in legal issues across multiple states. On March 30, 2023, Trump was formally indicted by a Manhattan grand jury for his alleged role in hush money payments to Stormy Daniels and Karen McDougal.
Donald Trump Gaining Momentum At Online Betting Sites
The betting public is oftentimes not an accurate barometer for what is going to happen in elections. However, the odds are typically the best predictor to gauge what the public and oddsmakers believe will occur.
According to the 2024 Presidential Election odds at Bovada, Trump’s chances of winning the presidency continue to improve. As of April 26, 2023, President Biden continues to lead former President Trump, but that lead is shrinking.
Currently, Biden has +140 odds to win reelection in 2024. In other words, Biden’s implied probability stands at 41.7%.
NEW: Donald Trump is surging in the polls. Do you support Trump in 2024? https://t.co/SK41NaizIj
— Ian Jaeger (@IanJaeger29) April 22, 2023
Previously behind Florida Gov. Ron DeSantis in the betting markets, Trump now has a lead over Gov. DeSantis and trending closer to Biden. Bovada currently lists Trump at +250 odds to win the 2024 Presidential Election. The odds equate to an implied probability of 28.6%.
After the 2020 Presidential Election, Trump’s chances of retaking the White House in 2024 looked slim. At the time, Trump’s odds of winning in 2024 were roughly at +2500 odds in late 2020.
Throughout early 2021, his odds hovered around the +2000 to +1000 mark. In Q4, toward the end of the year, Trump’s odds began to surge toward +500 in the betting markets.
With a potential criminal trial in his future, the former president continues to see improved odds.
Republican Party Favored To Win 2024 Presidential Election
Although Trump may not be currently favored to win the presidential election in 2024, Bovada has the Republican Party as a small favorite to defeat the Democratic Party.
The GOP is favored with -105 odds as opposed to even money for the Democrats. Besides Trump, the only other logical option to win the Republican nomination appears to be DeSantis.
Currently, Trump is favored to win the GOP presidential nomination with -170 odds. DeSantis, who is the only realistic competition to Trump, is listed at +275 odds. Nikki Haley is a longshot at +2500 odds.
While DeSantis has not formally announced a presidential bid, he is expected to run for the chance to face Biden in 2024. At the moment, DeSantis is keeping his 2024 candidacy announcement a mystery.
The odds for the winning party in the 2024 Presidential Elections seem to indicate that if Trump doesn’t win, another Republican has a strong chance.
The oddsmakers suggest that Trump or DeSantis would have a small advantage over Biden in the 2024 Presidential Election.
Every generation of Americans has faced a moment where they have been called on to protect our democracy, to defend it, to stand up for it.
And this is our moment.
Watch the very first ad of our reelection campaign — then, pitch in to help share our message far and wide. pic.twitter.com/RvPc51xqRz
— Joe Biden (@JoeBiden) April 26, 2023
Roughly Half of Democrats Wanted Biden On The Ballot In 2024
In a poll that does not speak favorably of President Biden, approximately half of the Democratic Party wished to see him run again in 2024.
According to a poll by The Associated Press-NORC Center for Public Affairs Research, only 47% indicated that they hoped to see Biden on the ballot for reelection. Furthermore, just 26% of Americans in the country wanted Biden to run next year.
However, it isn’t all bad news for Biden. The results from the poll are up from 37% in January. Additionally, 78% approve of the job he is doing and 81% said that they would probably vote for him in the general election if he is the nominee of the Democratic Party.
Biden, who will be 82 in 2024, is worrying some voters that he will not have the mental faculties to hold office. If he wins reelection, Biden will be 86 years old when he concludes his second term as the president.
In late April 2023, Biden had -1000 odds of being the Democratic nominee. He possesses a comfortable lead on VP Harris, who is well behind with +1500 odds. California Gov. Gavin Newsom and Michelle Obama have the next-best odds at +2500.
