Cloudbet: Trump’s Indictment Results in Odds Movement

Ahead of the 2024 presidential elections, crypto sportsbook Cloudbet released interesting details regarding the odds of Ron DeSantis, Nikki Haley and Glenn Youngkin as a favorite to win the Republican Party nomination.

The recent announcement comes after the June 8 indictment of former president Donald Trump. While there are more bettors showing support for Trump’s rivals, he is still considered the main contender against the current US president, Joe Biden. Judging by Cloudbet’s data, Trump’s odds of winning the presidency lengthened to 3.55 (+255) from 3.28 (+228). Still, Biden as the current president has a 42% probability of winning, reveals the crypto operator.

On the other hand, the odds of the New York real estate mogul winning the Republican nomination have lengthened to 1.88 (-114) from 1.39 (-256), given the indictment. However, since then, they have somewhat recovered to 1.46 (-217). At the same time, Cloudbet confirms that Trump still has a 68.5% chance to win the Republican nomination. In that line of thought, after Trump’s indictment, a change in the odds was observed for the other candidates to represent the Republican Party in the upcoming elections in 2024.

Judging by Cloudbet’s data, Ron DeSantis, Florida’s Governor’s “stagnant line got a slight boost to 2.87 (+187) from 3 (+200) before the June 8 indictment.” On the other hand, Glenn Youngkin, the Governor of Virginia moved to 41.2 (+4020) from 50.9 (+4990). Last but not least, Nikki Haley, the United Nations’ former Ambassador’s odds shortened to 21 (+2000) from 26 (+2500).

“Strategically, it makes sense to back some of the other candidates,“

explained a spokesperson for Cloudbet

A spokesperson for the company explained that supporting other candidates, besides Trump, makes sense. The spokesperson noted: “Who knows what might happen with Trump? If he has to withdraw, and Haley or Youngkin emerge as a front-runner, then the current odds offer great value.”

Recently, Trump pleaded not guilty to 37 charges alleging breaches related to handling documents of national security importance. Despite the indictment, the former president said that he plans to continue the campaign for president, regardless of how the trial against him may end.