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Biden back as favorite to win U.S. election: Smarkets

U.S. Democratic presidential nominee and former Vice President Joe Biden arrives with his wife Jill to react to early results from the 2020 U.S. presidential election in Wilmington, Delaware, U.S., November 4, 2020. REUTERS/Brian Snyder

LONDON (Reuters) - Democratic presidential candidate Joe Biden was back as favorite to win U.S. elections in online betting markets, according to Britain-based Smarkets Exchange, a reversal of fortune for President Donald Trump who was favorite overnight.

Smarkets is giving Biden a 56% chance to win the U.S. election, a massive flip from 29% an hour back.

The shift came after Biden overtook Trump in the battleground state of Wisconsin with an estimated 89% of the vote tallied so far. Trump has 49% and Biden has 49.3% of vote, according to Edison Research.

Reporting by Thyagaraju Adinarayan; editing by Carolyn Cohn