The odds on Donald Trump being re-elected in 2020 have shortened - not lengthened - since the US president was impeached, reports Max Liu...
"“President Trump’s impeachment overnight was not a huge surprise and his own outrage and that of his supporters is also no shock and it’s led to a lot of talk that it could actually strengthen his chances of re-election next year."
Democrats were celebrating after Donald Trump was impeached on Wednesday night but the odds have shortened on the Republican incumbent winning next year's presidential election.
Trump is 1.9520/21 on the Exchange's Next President market which suggests bettors think impeachment could be counterproductive for his opponents. Joe Biden, the leading candidate to win the Democratic Party nomination, is 7.613/2 to win in 2020.
Trump only third president to be impeached
Trump became only the third president to be impeached in US history after the Democrat-conrolled House of Congress voted 230-197 to approve a first article of impeachment charging Trump with abuse of power. A second article, charging Trump with obstruction of Congress, was also approved. This means Trump will face a trial next year in the Republican-controlled Senate where he is expected to be acquitted.
As the odds indicate, though, it could be that none of this damages his chances of be re-elected to the White House for a second term, and it could even mean his supporters become even more entrenched.
Betfair Exchange spokesperson, Katie Baylis said: "President Trump's impeachment overnight was not a huge surprise and his own outrage and that of his supporters is also no shock and it's led to a lot of talk that it could actually strengthen his chances of re-election next year. So far, we've seen that reflected immediately in the betting on Betfair Exchange with Trump's election odds shortening from 2.56/4 since his impeachment."