President Biden’s odds of becoming the Democratic Party’s 2024 presidential candidate dropped by nearly 30 percent after his debate with Donald Trump on Thursday night, according to one betting website.
The stock price for Biden to become the candidate in Prediction It fell from 85 cents shortly before the debate to 61 cents when it was over, which represents a drop of 28.2 percent, although it later recovered to 72 cents.
During the debate, which took place in Atlanta and was hosted by CNN, Biden appeared to lose his mind several times raising new concerns about the 81-year-old’s health and mental health. According to CNN national correspondent John King, his performance has caused “panic” in the Democratic Party, and his odds of winning the 2024 presidential election have plummeted with some leading bookies.
The Predict It website is run as a research project by Victoria University of Wellington in New Zealand. But it allows people to bet on the outcome of certain events by buying shares, priced between 1 and 99 cents depending on the probability of them taking place. If the event then happens, the bet maker receives $1 for each show, meaning that the higher the initial price, the more likely it is to take place by the website.
Predictions Offers betting “Who will win the 2024 Democratic presidential nomination?” Shares for Joe Biden to answer this question were worth 85 apiece before Thursday’s debate, but then fell to 61 cents after it ended, reflecting declining website confidence that he will be the nominee.
Newsweek contacted Joe Biden’s 2024 presidential campaign for comment via email.
ANGELA WEISS/AFP/GETTY
UK-based betting company Betfair cut the odds of Biden winning in November from 13/8 (38.1 percent) to 7/2 (22.2 percent) after Thursday’s debate.
During the same period, Trump’s chances of a victory in November increased from 8/13 (61.9 percent) to 4/7 (63.6 percent) after the debate. The difference between the two figures shows a rise in bookmakers who don’t think Biden will be the Democratic presidential nominee in November.
Betfair spokesman Sam Rosbottom told Newsweek: “Biden’s bad run with Trump has seen players quickly lose faith that the incumbent president has five more years.
“The two men went neck-to-neck in April; now, despite Trump’s various legal and financial problems, he has strong support to become the next US president.
At one point during Thursday’s debate, Biden appeared lost while defending his record on immigration. He said: “I’ve changed it in a way that now, you’re in a situation where there are 40 percent fewer people crossing the border illegally, better than when (Trump) left office. And I’m going to keep moving until we get a total ban … the total initiative is relative to what we’re going to do with more Border Patrol and more asylum officers.
In response, Trump replied: “I really don’t know what he said at the end of that sentence. I don’t know what he said either.”
The second presidential debate between Biden and Trump is scheduled for 9 p.m. ET on September 10 and will be hosted by ABC News.
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for a common field.
