Now that the first major candidate has made things official, the 2016 presidential race is in full effect.
Business Insider reached out to Paddy Power, Ireland’s largest bookmaker, for their odds on the election. So far, Hillary Clinton is the overwhelming favourite.
According to spokesman Rory Scott, as of last Sunday evening, Paddy Power had taken over 5,000 individual bets on the election. In 2012, the company said over $US3 million in bets were made on the election. They expect over $US6 million in bets for this race. Overall, Scott predicted betting on the 2016 race will be a $US100 million industry in the United Kingdom.
For the general election, Scott said Paddy Power derives the odds based on the prices for each candidate to be their party’s nominee and that party’s odds of winning. As of Sunday evening, Clinton was the favourite followed by several Republicans. Scott noted she received about 33% of the individual bets made on the race.
Check out Paddy Power’s general election odds below.
Paddy Power is also taking bets on each party’s primary. As of Sunday evening, while Clinton was the overwhelming favourite to win the Democratic contest, the Republican field was much more wide open. Former Florida Gov. Jeb Bush (R) is a slight favourite closely followed by Wisconsin Gov. Scott Walker (R), and Florida Sen. Marco Rubio (R). According to Scott, many more people are betting on the GOP primary.
“This is where we’re seeing the majority of bets placed — the open field lends itself to a much more interesting betting market,” Scott said of the Republican primary.
Scott described betting on the Democrats as “woefully slow,” which he attributed to people “waiting” to decide whether Clinton will enter the race.
Check out Paddy Power’s odds for the two primaries below.
Paddy Power is also taking bets on the gender balance each party’s ticket will have. As of Sunday evening, bettors seem to be confident two male Republicans will run while, with Clinton leading the way, the Democratic ticket is expected to be split.
Business Insider will have fresh odds next week.
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