Betfair hopes to come up Trumps with US Impeachment PoolWednesday, May 24, 2017 09:45
The world’s largest internet betting exchange, Betfair, is no stranger to running betting pools in matters of important global politics. They are currently accepting bets on the UK general election and have recently closed shop on the brutal French election campaign between Marine Le Pen and Macron.
Recently they have turned their attention to the goings on in the Whitehouse. It is not often that a betting market stays open after an election but in the case of the Trump administration one question is still worth taking bets on, will President Trump be ousted from office.
Odds and Ends
As anyone who keeps an eye on the daily news from the Whitehouse and the tireless journalists who cover it will know every day comes with a whole new spate of allegations and scandals emanating from the Oval Office. In the course of a single week, Trump has fired the director of the FBI who was investigating his campaign, met with the Russian politicians that were embroiled in the scandal and admitted to giving them classified information about US military operations right in front of members of the Russian press. With all this in mind, it’s no wonder that bookies are starting to offer odds on the republican president’s removal from office.
In the Trump Exit Date market on Betfair, the odds for Trump to be out of the Whitehouse by the end of the year have halved to 3.60 since the developments in this story have come to light. The odds are of course to be taken with a grain of salt as the Trump campaign has proved itself in the past to somehow be able to swallow huge scandals and come out on top much in the way they did in the election where Hillary Clinton was out and out the bookie’s favourite for victory.
The odds market has certainly drummed up a large amount of attention from punters as already, only five months into his presidency over £500,000 has been wagered against him surviving the full four years on the Betfair site alone. This will no doubt rise as time goes on and the chances of winning become more and more likely.
Is it a Smart Bet?
The impeachment process is a long and drawn out one, and one that must be approved by the congress, a congress that is currently held by a Republican majority that has a history of overlooking certain transgressions in favour of partisan benefits. However, there is a mid-term election scheduled for around November 2018 in which an unfavourable party will be battling for seats in the very same institution that holds the ability to oust a president. It is very difficult to tell if this mid-term will happen after an impeachment or will spark one due to a shift in the political makeup of the congress. Either way, the odds are looking good for a hasty Trump exit and an early bet would definitely improve the winnings that could be in store.