Betting markets give Trump slightly improved chances after debate

FILE PHOTO: Democratic presidential nominee Joe Biden and U.S. President Donald Trump participate in their second 2020 presidential campaign debate at Belmont University in Nashville, Tennessee, U.S., October 22, 2020. REUTERS/Jim Bourg/Pool/File Photo

LONDON (Reuters) - U.S. President Donald Trump’s probability of getting re-elected gained slightly on online betting markets following Thursday’s final presidential debate.

Bettors on British exchange Smarkets give Democratic challenger Joe Biden a 66% chance of winning the Nov. 3 election, down from 68% before the the debate. Trump’s chances improved to 34% from 32%.

Betfair also said Trump’s odds improved on the same level following the debate, adding that punters spent over nine million pounds ($12 million) betting on the election over the last 24 hours.

The odds have narrowed since mid-October, but betting trends on gambling websites still predict a win for Biden. The former vice president has a substantial lead in national opinion polls, although the contest is closer in battleground states likely to decide the race.

The majority of big-money political betting occurs outside America as betting on politics is illegal in the United States.

Reporting by Thyagaraju Adinarayan; Editing by Frances Kerry