Drew Wilson
The odds of Joe Biden entering office with a Democratic Senate are stronger now than they were a few weeks ago, according to a leading oddsmaker.
U.S. Bookies on Monday extended favorable odds for the Democratic nominees in Georgia’s two U.S. Senate races — for the first time, both Raphael Warnock and Jon Ossoff are considered the favorites.
Currently, Warnock has 3/5 odds — implying a 63% chance of winning — in the head-to-head runoff between he and U.S. Sen. Kelly Loeffler. Loeffler’s odds worsened to 6/5, implying a 46% chance.
Ossoff, meanwhile, has 4/5 odds — implying a 56% chance to win — while U.S. Sen. David Perdue’s odds have worsened to even money.
“The Democratic candidates have been gradually improving in the betting markets, and finally overtook their Republican opponents following the New Year,” a U.S. Bookies spokesperson said. “While the markets are still quite close, noticing such improvements in the final days before the election is a strong sign for Warnock and Ossoff, and it paints a grim picture for Loeffler’s and Perdue’s hopes of retaking their seats.”
The new betting lines show another swing in the race in the weeks following the November General Election, which saw both Republicans placed first but failed to secure more than 50% of the vote, necessitating a runoff.
On Nov. 24, Loeffler had a 52% chance of winning election to her first full term while Perdue had a two-thirds chance of winning reelection.
By Dec. 9, Loeffler’s odds shot up to 67% and held steady when U.S. Bookies updated the odds on Dec. 15. Perdue’s odds held at 67% in the Dec. 9 and Dec. 15 update.
Still, U.S. Bookies says a Democratic sweep in tomorrow’s election is a coin flip.
“While the individual odds bring good news for Warnock and Ossoff, the bookmakers aren’t counting out a Republican majority Senate,” the spokesperson said. “The odds of the Republicans holding a majority of the Senate seats are currently 8/11, while the odds that they hold exactly 50 are 1/1, suggesting both outcomes are very close at the moment.”
Currently, Republicans hold 50 seats in the Senate while Democrats and independents who caucus with them hold 48.
If both Georgia seats go for the Democrats, the party will control the chamber once Vice President-elect Kamala Harris is sworn in. If Republicans hold onto either seat, the GOP will maintain control of the chamber.
