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Punters Continue to Bet on Trump Impeachment

Punters Continue to Bet on Trump Impeachment

Donald Trump has resulted in a steady stream of political betting since he chose to run for office and now gamblers are increasingly betting on his impeachment.

At Ladbrokes the odds on Trump leaving office via resignation or impeachment are 11/10, just slightly worse than even money. At Paddy Power you can get odds as short as 4/1 on Trump being impeached this year in the House of Representatives. Similar odds are available at Bovada.

Alex Donohu, the PR manager at Ladbrokes, said, “From a betting perspective, Donald Trump’s presidency has triggered a massive boom for these kinds of markets. With Donald Trump, everything he does, it can be turn into speculation, and that can be turned into gambling.”

In regards to the remarkably short odds on Trump leaving Ladbrokes spokesperson Jessica Bridge said, “It’s all about supply and demand and punters have been backing it and we’ve forced to cut the odds accordingly. As every day goes by, there’s a new Donald Trump controversy and punters are putting two and two together and backing him to leave.”

So far hundreds of thousands of pounds have been bet on the future of Trump’s presidency at Ladbrokes, while this doesn’t match the millions that was bet on the election it is still far more than is usual at the start of a new administration.

Paddy Power spokesman Lewis Davey, has also commented on the early days of Trump’s administration calling it a “rollercoaster” and saying that there has been widespread public interest in betting on its future.

Paddy Power lost over £4 million after paying out early on Hillary Clinton winning the election. Nonetheless, Davey insisted that the bookmaker will continue to offer odds on US politics.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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