You cannot bet legally on political races in the United States. But there is a thriving market in Britain and elsewhere for gamblers looking to make money on big races. Many bettors are consuming a wide variety of data about the race between President Trump and Joseph R. Biden Jr. As a result, the betting odds can be a canary in a coal mine, picking up movements before some pundits notice. On Tuesday night and Wednesday morning, political bettors, at least those in jurisdictions where they could legally place wagers, went on a wild ride. Going into election night, bookmakers in places like Britain had Mr. Biden as a favorite, but were nonetheless more bullish about Mr. Trump’s chances to win than statistical sites like Fivethirtyeight.com and The Economist.

Source: International New York Times November 04, 2020 17:30 UTC