Trump extends position as presidential betting odds favorite after assassination attempt

Update: The betting odds section has been updated with odds from William Hill and all odds have been updated to be as of July 16 where possible.

Former President Donald Trump has extended his position as betting favorite in the 2024 Presidential election as the Republican National Convention kicks off.

The betting market, which bookmakers can't legally take action on in the US, began shifting to the right after the debate between President Joe Biden and Trump but has accelerated in favor of Trump since the assassination attempt on him Saturday, according to Lee Phelps, a spokesperson for UK betting house William Hill

"After Donald Trump survived an assassination attempt on stage on Saturday, his odds for re-election as US President have only gone in one direction," Phelps said.

Trump was at -200 on Tuesday, ahead of Biden's NATO press conference and the assassination attempt, but bettors shortened his position to -275 as of Monday.

Phelps noted that Biden's odds to win the Democratic Presidential nomination had shortened from Evens to -400 in the same time period.

Here are the presidential betting odds as of July 16.

RNC 2024 live updates: What's the schedule of speakers? Marjorie Taylor Greene, Katie Britt give remarks

Presidential election betting odds

William Hill

• Donald Trump: -300

• Joe Biden: +400

Star Sports

• Donald Trump: -250

• Joe Biden: +450

As of July 15

Bovada

• Donald Trump: -280

• Joe Biden: +385

BetOnline

• Donald Trump: -300

• Joe Biden: +325

Oddschecker

• Donald Trump: -223

• Joe Biden: +520

How accurate have betting odds been in past Presidential elections?

The betting favorite has only lost twice since 1866, according to the Conversation.

The two upsets came in 1948, when Harry Truman (D) beat eight to one odds to defeat Thomas Dewey (R), and in 2016, when Trump overcame seven to two odds to beat Hillary Clinton (D).

Biden was the betting favorite in the 2020 race, holding the pole position with Oddscheker from May through November.

Watch the RNC live

This article originally appeared on USA TODAY: Presidential betting odds favor Trump after assassination attempt