Crypto Bets on the US Election Show Joe Biden Winning the Presidency by 60%

During the first half of the year, betting portals that allow people to wager cryptocurrencies on the upcoming U.S. election had shown Donald Trump winning the election. However, after Tuesday evening’s Presidential Debate, betting markets like Cloudbet show Joe Biden’s chances of getting elected is favored by 61% over the incumbent Trump.

Tuesday’s Presidential Debate was considered by many as one of the “worst debates” in the history of American leadership. However, many people still kept score on how each candidate did during the evening’s political discourse.

In addition to all the people watching the debate on television, a great number of people have been betting on the outcome. The betting web portal Cloudbet, a gambling operator that accepts BTC, USDT, BCH, and ETH, detailed that the company saw a “significant pick-up in betting activity ahead of the debate.”

Crypto Bets on the US Election Show Joe Biden Winning the Presidency by 60%
Tuesday evening’s Presidential Debate was considered the “worst” in American history by many political pundits. Scanning wagers on cryptocurrency gambling portals shows a number of bets held on Cloudbet, Betmoose, and FTX Exchange point to Joe Biden winning the U.S. election by over 60%.

Back in February and in June 2020, news.Bitcoin.com reported on gambling websites and prediction markets that said Donald Trump would likely win the election. However, after the Presidential Debate, it seems the tides have changed more broadly in Biden’s favor.

“Cloudbet saw a significant pick-up in betting activity ahead of the debate: About 10% of the value of all bets on the U.S. election was placed in the 24 hours leading up to the event,” a spokesperson for the company said. “Bets on Trump accounted for 90% of the new positions.”

Cloudbet’s spokesperson added:

Odds on a Biden win shortened to 1.65, meaning betting markets give him 61% chance of being elected, according to prices compiled by crypto sportsbook Cloudbet. That compares to 1.73 (58%) just before the debate. Trump’s odds…

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