Trump’s odds now at 7%; betting markets vs. polls as election predictor, explained

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Since 10:00 am EST on Friday, November 6, betters have put Donald Trump's odds of winning at 7%, according to information from Betfair.

Betting chances give "at one point, an unbiased value of the possibility of a prospect winning or losing, so it's similar to the gold market," stated Steve Hanke, professor of applied economics at Johns Hopkins University.

0:00 – What wagering probabilities represent
5:43 – Are wagering chances exact forecaster
7:14 – Why surveys are not helpful
13:39 – Are betting markets reliable?
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