Outside Source
[PRESS RELEASE – Willemstad, Curaçao, Netherlands, November 1st, 2024]
Cloudbet sportsbook data shows Trump still crypto favorite; Harris probability dips to record lows.
With just a few days left until the 2024 U.S. Presidential Election, the crypto betting market and traditional polls continue to diverge on the race between former President Donald Trump and Vice President Kamala Harris. Cloudbet, a leading crypto betting platform, reports Trump’s odds at 1.56, indicating crypto money is piling into what many believe is an all but certain second term for Trump.
As final polls rolled in over the pre-election weekend, Harris seemed to be holding on in several crucial “blue wall” states. The notable exception was Pennsylvania, with CNN polling showing the candidates tied at 48%. “Given only the polls, there is no way the odds would have moved this far to Trump,” a Cloudbet spokesperson said. “I’m not saying there’s not a high chance he’ll win, but it’s hard to imagine a lot of crypto bettors aren’t betting on their personal hopes here.”
On election day in 2020, Cloudbet reported that 84% of bets placed favored Trump. “It was so one-sided the oddsmakers were double and triple-checking everything coming in,” said the spokesperson. “They couldn’t believe how few people were backing Biden to win.”
In 2024, Cloudbet believes the added weight of a “crypto voter” voting block may be a contributing factor to the bullishness on Trump, who has repeatedly weighed in with pro-crypto talking points. Cloudbet’s odds for Trump imply a 64.1% chance of him winning the election, with Harris’ odds sometimes dipping below a 40% chance of victory.
Cloudbet users have also been bullish in state-by-state bets for Trump, moving implied probability close to 80% in North Carolina and to almost 60% in Wisconsin (as of October 31, 2024):
- Arizona: Trump to win at 78.13%
- Florida: Trump to win at 97.09%
- Georgia: Trump to win at 74.07%
- Michigan: Harris to win at 58.14%
- Nevada: Trump to win at 68.03%
- North Carolina: Trump to win at 75.19%
- Pennsylvania: Trump to win at 60.24%
- Wisconsin: Trump to win at 58.82%
Odds, of course, may tighten. The final days of the campaign have been marked by high-profile endorsements and controversies. Puerto Rican reggaeton star Nicky Jam withdrew his support for Trump after comedian Tony Hinchcliffe’s disparaging remarks about Puerto Rico at a rally. Meanwhile, former California Governor Arnold Schwarzenegger announced his endorsement of Harris, joining a growing list of Republicans crossing party lines.
Per Cloudbet, this all adds up to a wild ride for bettors: “It’s going to be a wild last few days here. Crypto bettors often jump in at the final hour, and we expect a ton of people to be looking at the moving odds on our politics page right up until polls close.”
About Cloudbet
Founded in 2013, Cloudbet is the longest-running crypto-betting platform in the world. It has processed millions of bets across its sportsbook and casino platforms, serving hundreds of thousands of users globally. As a licensed operator, Cloudbet maintains institutional-grade custody solutions and a decade-long track record of zero security breaches.
Players can bet using 35+ cryptocurrencies, from Bitcoin and Ethereum to stablecoins and emerging altcoins. Available in 18 languages, Cloudbet features live sports betting across major leagues, esports, and 3,000+ casino games from premier providers.
For media inquiries, odds requests, and further information, please contact Irene at irene@media.cloudbet.com or visit media.cloudbet.com.
This article first appeared at CryptoPotato
