Fun

Crypto Bets on the US Election Show Joe Biden Winning the Presidency by 60%

News Feed - 2020-10-01 08:10:31

Crypto Bets on the US Election Show Joe Biden Winning the Presidency by 60%


During the first half of the year, betting portals that allow people to wager cryptocurrencies on the upcoming U.S. election had shown Donald Trump winning the election. However, after Tuesday evening’s Presidential Debate, betting markets like Cloudbet show Joe Biden’s chances of getting elected is favored by 61% over the incumbent Trump.


Tuesday’s Presidential Debate was considered by many as one of the “worst debates” in the history of American leadership. However, many people still kept score on how each candidate did during the evening’s political discourse.


In addition to all the people watching the debate on television, a great number of people have been betting on the outcome. The betting web portal Cloudbet, a gambling operator that accepts BTC, USDT, BCH, and ETH, detailed that the company saw a “significant pick-up in betting activity ahead of the debate.”Tuesday evening’s Presidential Debate was considered the “worst” in American history by many political pundits. Scanning wagers on cryptocurrency gambling portals shows a number of bets held on Cloudbet, Betmoose, and FTX Exchange point to Joe Biden winning the U.S. election by over 60%.


Back in February and in June 2020, news.Bitcoin.com reported on gambling websites and prediction markets that said Donald Trump would likely win the election. However, after the Presidential Debate, it seems the tides have changed more broadly in Biden’s favor.


“Cloudbet saw a significant pick-up in betting activity ahead of the debate: About 10% of the value of all bets on the U.S. election was placed in the 24 hours leading up to the event,” a spokesperson for the company said. “Bets on Trump accounted for 90% of the new positions.”


Cloudbet’s spokesperson added:Odds on a Biden win shortened to 1.65, meaning betting markets give him 61% chance of being elected, according to prices compiled by crypto sportsbook Cloudbet. That compares to 1.73 (58%) just before the debate. Trump’s odds drifted to 2.23 from 2.16.


In addition to Cloudbet, a number of other betting portals are accepting cryptocurrency-fueled bets on who will win the U.S. election this November.The “Will Donald Trump be elected president in 2020” wager on Betmoose.


Betmoose, another crypto gambling operator, has a few different election bets going. For instance, the Betmoose wager called “Will Donald Trump be elected president in 2020?” has seen 12.93 BTC ($138k) in total volume to-date. So far 6.443 BTC or 74 bets say that Trump will win, while 6.491 BTC or 46 cumulative bets say Biden will win.


Trump’s chances are also lower at the FTX Exchange as well, as the “TRUMP” futures token has slid from $0.62 or a 62% chance of winning to $0.40 today. This means the presidential election futures token bets show that Biden is leading Trump by 60% today.


Another betting exchange taking U.S. election wagers is Fairlay, and one particular staked bet says Trump will win by 91%. Fairlay is one of the only crypto-infused gambling operations that shows Trump winning a number of election stakes, as most crypto betting operators today show Biden leading by 55-65%.


Looking at the prediction markets leveraging Augur shows that there are still two wagers showing that Trump could win the election. However, there’s a new prediction market called “Will Donald Trump be Re-Elected in 2020?” that has $22,221 at stake showing he will lose by 56%.


What do you think about the bitcoin betting portals that show Joe Biden might take the presidency from Donald Trump this election? Let us know what you think in the comments section below.JPMorgan Admits Fraud, Agrees to Billion Dollar Settlement for Illegal TradingNEWS | 12 hours agoUS Senate Candidate Is a Hodler, Sees Bitcoin as Alternative Store of Value to US DollarNEWS | 1 day agoTags in this story60%, 60% in Favor of Biden, Augur, Betmoose, Betting on the election, bitcoin betting, Cloudbet, Crypto Betting, Digital Currency Wagers, Donald Trump, Donald Trump Loses, FTX Exchange, Joe Biden, Joe Biden Wins, Prediction markets, Trump Futures, US presidential election, Wagers


Image Credits: Shutterstock, Pixabay, Wiki Commons, Betmoose,Use Bitcoin and Bitcoin Cash to play online casino games here.Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimerShow comments

News Feed

Crypto Bank Custodia Denied Membership in US Federal Reserve System
Crypto Bank Custodia Denied Membership in US Federal Reserve System The U.S. Federal Reserve Board has rejected the attempt of Custodia Bank to become member of the Federal Reserve
AI makes it even easier for governments to surveil you — Nym CEO
Jonathan DeYoung12 hours agoAI makes it even easier for governments to surveil you — Nym CEONym CEO Harry Halpin tells The Agenda podcast that artificial intelligence makes it easier than ever to conduct surveillance a
MTV to Broadcast Metaverse-Inspired Award Show Performance Featuring Eminem, Snoop, Bored Apes
MTV to Broadcast Metaverse-Inspired Award Show Performance Featuring Eminem, Snoop, Bored Apes On Thursday, the popular cable channel MTV revealed that the legendary rappers Eminem
‘Unprecedented’ Institutional Demand for Bitcoin: Bitgo’s Custodied Assets Top $16 Billion, No Paypal Deal
"Unprecedented" Institutional Demand for Bitcoin: Bitgo"s Custodied Assets Top $16 Billion, No Paypal Deal Bitgo’s assets under custody have surpassed $16
Crypto users fooled by fake Elizabeth Warren letter proposing crypto tax
Turner Wright4 hours agoCrypto users fooled by fake Elizabeth Warren letter proposing crypto taxThe fake letter addressed to U.S. President Joe Biden suggested a 1% wealth tax on crypto holdings exceeding $500,000.3831 T
Solana Slips To $209: Rising Bearish Pressure Threatens Key Support
Este artículo también está disponible en español. Solana is navigating a critical juncture as its price edges toward the $209 mark under increasing bearish pressure. Rece
Savannah Fortis14 hours agoEU tech coalition warns of over-regulating AI before EU AI Act finalizationA group of 33 businesses and tech companies have signed a joint letter to EU regulators urging them not to over-regula
Binance Obtains Regulatory Approval to Offer Crypto Products in Italy
Binance Obtains Regulatory Approval to Offer Crypto Products in Italy Crypto exchange Binance has received regulatory approval from Italy’s financial regulator to operate as
Bitcoin miner Riot Platforms reports record $211M Q1 net income
Brayden Lindrea8 hours agoBitcoin miner Riot Platforms reports record $211M Q1 net incomeRiot’s net income was boosted by a 131% year-on-year increase in Bitcoin’s price despite the cryptocurrency becoming more diffi
Bitcoin’s Early Days: Reporter Recalls $200K Sushi Dinner After Spending 10 BTC, Former Bitcoin Dev Sells 55,000 BTC for Under $30 a Coin
Bitcoin’s Early Days: Reporter Recalls $200K Sushi Dinner After Spending 10 BTC, Former Bitcoin Dev Sells 55,000 BTC for Under $30 a Coin As bitcoin touched an
Remitano Makes Cross-Border Money Transfer Much Easier With New “Cash-Out” Feature
Remitano Makes Cross-Border Money Transfer Much Easier With New “Cash-Out” Feature PRESS RELEASE. To simplify banking and meet its users’ Remittance ne
Alice Ivey13 hours ago5 AI-themed movies to watchFrom dystopian futures to emotionally charged connections, AI-themed movies have a unique way of tapping into our fascination with artificial intelligence.633 Total views7