SBC News Voice of the Sports Betting Industry
Updating its ‘US 2016 Presidential Election’ exchange market, Betfair has revealed that £2 million was traded this weekend ahead of tonight’s much-anticipated live TV debate between Hilary Clinton and Donald Trump.
To date the Betfair Exchange has recorded a total of £44 million traded on the 2016 US Election, surpassing the amount traded across all markets during the 2012 Presidential Election.
At present Betfair has priced Clinton at 1.67 having been backed into 1.26 (1/4 or a 79% chance) in August. This morning Betfair informed UK media that Trump has hit a new low of 2.66, which equates to around a 38% chance of taking the White House.
Betfair marketing would label the market as its most “bizarre and intriguing US Presidential Race in history”.
Naomi Totten, Spokesperson for Betfair, said
“The first of the live presidential debates, which will be viewed by more than 100 million people, will be a very real test for Clinton and Trump with confidence at an all-time low in both nominees, so it will be fascinating to see how the market reacts over the next few days.”
“There has now been £44m traded so far, making it the second biggest political event ever on the Betfair Exchange, but the market could very easily reach over £100m by Election Day as activity generally escalates in the final weeks of the race.”
