Bernie Sanders Slips to 5th Place in Las Vegas Betting Odds – & in New Hampshire

July 16, 2019

Bettors Are Now Putting More Money on Harris, Warren, Biden & Buttigieg – in that Order

A Primer on How Vegas Odds Are Determined by Gambling Traffic & What that Can Tell Us About Perceptions of the 2020 Race

By Al Giordano

Back in March of this year a bet on Bernie Sanders to win the Democratic Nomination was a pick with three-to-one odds, meaning that if you bet a dollar and he won you’d win three dollars once that happened (presumably a year from this week at the 2020 Democratic National Convention in Milwaukee).

Three-to-one odds (in Las Vegas that is written as 3/1) meant Sanders was considered by the gambling community’s “wisdom of the crowd” to have a 25 percent shot at the nomination. But today Sanders is considered a 10-to-one shot, or with a 9.09 percent chance. This offers an excellent opportunity, too, to show the non-gambling community how the bettors both measure and influence momentum in American political campaigns, a primer of which I offer below in the rest of this piece which only logged-in subscribers can read.

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