Trump favoured as election betting odds flip, expert says

Based on an average of betting websites, President Donald Trump is now favoured to win the election said an expert.

The website, electionbettingodds.com, founded by Maxim Lott and John Stossel, has recently reversed its average betting odds in favor of Trump over the past few hours, report Fox News.

Lott told Fox News on Tuesday night that Trump might not have won yet but it looked that he could.

This morning, Lott said betting odds on his platform, averaged from other gambling websites, had Trump as only a 38% favorite to win the presidency. 

However, Trump is more than a 70 percent favorite as of 11 pm. Currently, Democratic presidential nominee Joe Biden has just under 30 percent.

"I was surprised though to see it flip so quickly," he added.

Lott created a program on his website that every minute goes to different gambling sites, including FTX.com, Smarkets, and Betfair to check what the odds are.

He said the site was created in 2015 with the belief that markets and are the best predictor of what's going to happen because "they have an incentive to get it right."

While experts had Biden as the clear favorite to win the election, Lott said this year made things a bit more unpredictable.

"I always thought, and I said this before the election, that they were overconfident -- because 2020 is such a crazy year," he said. "You can't predict things."

He said that polls could be off because of shy voters and social pressure against Trump voters right now. He added that another X-factor people may have not been looking at was mail-in ballots.

Still, Lott said the betting odds could flip back to Biden. He described the former vice president's chances as flipping a coin two times and getting heads both times.

"That's about the chance that it'll flip back to Biden," he continued.