Predictions

 

Election betting market edges towards Trump, who now has a 70% chance of victory, as Biden struggles to make breakthroughs in key swing states

Donald Trump's odds of winning the 2020 presidential race has reached an all-time high for the first time on Election Day as the final polls across the country begin to close.

Bookies around the world are placing their bets on whether Trump will secure another four years in office or if he'll be ousted by Democratic challenger Joe Biden.

Up until late Tuesday, Biden had been the frontrunner among betting markets with a 69 per cent chance of winning, according to gambling website Oddschecker.

But as votes across the US roll in showing Biden struggling to secure key swing states, the odds flipped in favor of his opponent whose chances of victory reached  -333, or a 76.9 per cent.

The figures are a significant jump from Trump's odds at the start of the day when he gamblers placed him at a 40 per cent chance of re-election.

By 9.45pm however, Biden's odds took a massive blow, dipping to 48.4 per cent.

As of 11pm EDT, Trump, with 114 electoral votes, now has a 70 per cent chance of taking the election.  

'He hasn't won yet, but it's looking like he might,' Maxim Lott, the co-creator of electionbettingodds.com told Fox News.