PETERSBURG, Fla. (AP) — A friendly $100 wager over the 2020 Presidential election has landed in a Florida small claims court. Before the election, Sean Hynes, a Trump supporter from St. GOP senators in spotlight as second impeachment trial looms. The US presidential election takes place Nov. 2, 2020, and the race between Trump and Biden is heating up. Get betting odds on the GOP and Democratic nominees. The Norwood, SA, 1979 state election result (won by Frank Webster, Liberal) was overturned by a court decision, and a by-election held 16/2/1980. In the few months between the general election and the by-election, the Norwood electoral roll numbers increased by 10%. For example, at some US Republican election betting sites, Donald Trump is a -300 favorite to win a second term in 2020. After observing the polls and studying the Democratic primary challengers, you determine that Trump has an 85% chance of beating whoever the DNC runs against him. Presidential election is less than two months away, and Democratic candidate Joe Biden has increased his lead in the polls and various sportsbooks abroad. And some believe that online betting markets are better to forecast who will win on November 3.

President Donald Trump and Democratic Nominee Joe Biden face off in a heated final US 2020 Presidential Debate ahead of the election on November 3rd.

Who will win – Joe Biden, or Donald Trump? Picture: Jim Watson and Saul Loeb, AFPSource:AFP

The US election is fast approaching – and as November 3 draws nearer, millions of eyes have turned to betting agencies for clues as to who will win.

While bookmakers are always at the centre of attention in the lead up to elections and major sporting matches, speculation has reached a fever pitch this time after the polls sensationally tipped a landslide Hillary Clinton victory in 2016 – only for Donald Trump to ultimate claim the top job.

In 2020, many are seeking an alternative way of predicting the possible outcome – so here’s everything you need to know about betting on the 2020 US election.

WHAT ARE THE ODDS?

At the moment, Democratic hopeful Joe Biden is the clear favourite across the major betting sites.

In the final days before the election, Mr Biden’s odds have shortened slightly with Betfair having him at $1.45 to win.

While his edge is narrowing, many believe betting odds offer a more accurate election prediction than polls, as people have invested their own hard-earned cash in the outcome.

According to the 2020 Presidential Election Betting Odds Tracker at OddsShark, Donald Trump was the favourite back in July 2019 – but now, “Biden is a -185 favourite to win the 2020 US presidential election, with Trump coming back at +140”.

These are the odds according to some of the major betting agencies, as of October 28.

Basically, it means for every $1 you put on that candidate you would get the below in return if they won.

• Biden: $1.61

• Trump: $2.35

LADBROKES

• Biden: $1.50

• Trump: $2.70

Where To Bet On Trump

• Biden: $1.45

• Trump: $2.96

• Biden: $1.50

• Trump: $2.75

• Biden: $1.50

• Trump: $2.70

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Joe Biden is the clear favourite – but bookies got it wrong last time around when they predicted a Clinton win. Picture: David Gannon/AFPSource:AFP

DIFFERENT BETS YOU CAN MAKE

All eyes are on the big one – whether it will be Joe Biden or Donald Trump in the White House for the next four years.

But there are also a string of other bets on the table.

For example, bets are also being taken on the number of electoral college votes each candidate will receive, who will win the popular vote, the state electoral college winner, the state margin, seat margin, US Senate winner and many more.

For example, Mr Trump is paying $4.50 to win the popular vote compared to Mr Biden’s $1.18 (the candidate to get the most votes across America).

In 2016, Ms Clinton won the popular vote but still lost the election.

Us 2020 Election Betting Presidential

ODDS BEFORE 2016 ELECTION

When Donald Trump took on Hillary Clinton in the 2016 election, it wasn’t just the pollsters that got the outcome disastrously wrong – the betting sites also incorrectly predicted a Clinton victory.

Us 2020 Election Betting Odds

In fact, Irish bookmaker Paddy Power failed so spectacularly it ended up with a £4 million ($A7,399,793) bill after prematurely paying out £800,000 $A1,479,958) to those who had backed Hillary Clinton ahead of Donald Trump’s shock win.

According to OddsShark, Mr Trump’s odds to win the 2016 election were close to 5-to-1 on election day eve.

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Us 2020 Election Betting Rules

Punters can bet on the ultimate winner as well as a sting of side bets. Picture: Kamil Krzaczynski/AFPSource:AFP

HOW TO BET

Betting on political elections is very much illegal in all 50 states in the US.

Us Election 2020 Betting Australia

However, the same rules don’t apply in other countries, which means betting agencies based in Australia, the UK and other nations are open for business, with most companies allowing punters to place a bet online.

Betting Odds Biden Steps Down

According to Fortune, gambling insiders are expecting the previous record set in 2016 to be broken again this year, with some bookies expecting the election to be even bigger than the Super Bowl where betting in concerned.