{"id":153807,"date":"2020-10-29T14:31:04","date_gmt":"2020-10-29T21:31:04","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=153807"},"modified":"2020-10-29T15:49:43","modified_gmt":"2020-10-29T22:49:43","slug":"predictit-2020-presidential-betting-market-hits-record-115m","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/","title":{"rendered":"PredictIt Presidential Betting Market Hits Record 115M Trades, Biden Extends Lead"},"content":{"rendered":"

Online betting exchange PredictIt says more than 115 million shares have been traded on the 2020 presidential election outcome, an all-time record for the site.<\/p>\n

\"PredictIt
No betting market on PredictIt has attracted as much activity as the 2020 presidential election between President Donald Trump and Joe Biden. (Image: PredictIt\/Getty\/Casino.org<\/em>)<\/figcaption><\/figure>\n

The news follows Betfair, a political betting exchange based in London, reporting that over $260 million has been wagered<\/a> on either President Donald Trump or Democratic challenger Joe Biden. The 2020 race, Betfair says, is its largest single betting event ever.<\/p>\n

While PredictIt does not disclose specific dollar amounts wagered on its site, the platform told Casino.org <\/i>that the Trump vs. Biden showdown is “the biggest market we have ever had.”<\/p>\n

\n

One hundred and fifteen million shares traded in its lifetime, with almost 31 million in outstanding shares. Not to mention the one and a half million comments on the board,” said Will Jennings, PredictIt’s head of public engagement.<\/p>\n<\/blockquote>\n

Biden’s shares of winning on November 3 are trading at 67 cents. That’s up three cents over the past 24 hours. Trump is at a distant 39 cents.<\/strong><\/p>\n

Market (Somewhat) Closed <\/b><\/h2>\n

On October 19, PredictIt told new bettors trying to buy-in to the 2020 presidential election market that the number of traders has been capped.<\/p>\n

“Note to traders: As of this time, the contracts for Joe Biden and Donald Trump have reached the limit for the allowable number of traders,” a notice on the market explains.<\/p>\n

So, what about those 31 million outstanding shares? Jennings clarifies that there is a cap of 5,000 concurrent traders in each market.<\/p>\n

“For several of our bigger markets, we have recently hit that capacity. We’re now seeing liquidity tip over into other markets<\/a> across the site. Traders are settling in for Election Day,” Jennings stated.<\/p>\n

\n

Those who want to buy shares of the presidential market need a little bit of luck. For a new trader to be welcomed in, one of the 5,000 traders who has already bought shares would need to sell and exit. “We’re like a stadium at capacity — one out, one allowed in,” Jennings declared.<\/p>\n<\/div>\n

Those who are in the market continue to trade heavily. Just this week, more than one million shares were bought and sold. That averages out to a little more than 200 shares per PredictIt trader in the presidential market.<\/strong><\/p>\n

Latest Odds<\/b><\/h2>\n

We’re just five days from Election Day, though more than 75 million Americans have already cast their vote.<\/p>\n

Sportsbooks in the US cannot take bets on the 2020 outcome. But William Hill in the UK has Biden the heavy favorite at 11\/20 (64.52 percent). Trump is at 6\/4 (40 percent).<\/strong><\/p>\n

Some late money came last week on the President successfully winning a second term, which momentarily forced books to adjust their lines in Trump’s favor. However, those lines have since shortened on the former VP becoming president.<\/p>\n

The Real Clear Politics <\/i>polling average has Biden with a 7.4-point lead.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Online betting exchange PredictIt says more than 115 million shares have been traded on the 2020 presidential election outcome, an all-time record for the site. The news follows Betfair, a political betting exchange based in London, reporting that over $260 million has been wagered on either President Donald Trump or Democratic challenger Joe Biden. The […]<\/p>\n","protected":false},"author":25,"featured_media":153813,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[61,1],"tags":[],"acf":[],"yoast_head":"\nPredictIt 2020 Presidential Betting Market Hits Record 115M Trades<\/title>\n<meta name=\"description\" content=\"Betting exchange PredictIt says more than 115 million shares have been traded on the presidential election outcome, an all-time record.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PredictIt 2020 Presidential Betting Market Hits Record 115M Trades\" \/>\n<meta property=\"og:description\" content=\"Betting exchange PredictIt says more than 115 million shares have been traded on the presidential election outcome, an all-time record.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-29T21:31:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-29T22:49:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/1200-1-Real-estate-dumps-Trump-v2-705x439-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"775\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/\",\"url\":\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/\",\"name\":\"PredictIt 2020 Presidential Betting Market Hits Record 115M Trades\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/1200-1-Real-estate-dumps-Trump-v2-705x439-1.jpg\",\"datePublished\":\"2020-10-29T21:31:04+00:00\",\"dateModified\":\"2020-10-29T22:49:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Betting exchange PredictIt says more than 115 million shares have been traded on the presidential election outcome, an all-time record.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/predictit-2020-presidential-betting-market-hits-record-115m\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/1200-1-Real-estate-dumps-Trump-v2-705x439-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/1200-1-Real-estate-dumps-Trump-v2-705x439-1.jpg\",\"width\":1200,\"height\":775,\"caption\":\"No betting market on PredictIt has attracted as much activity as the 2020 presidential election between President Donald Trump and Joe Biden. 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