US election 2020: Trump’s odds of winning SKYROCKET after Kanye West presidential bid

And even though the US rapper is yet to decide whether his bid for the presidency is to go ahead, traders seem undeterred with Mr West’s own odds holding steady recently.

In an extensive interview with Forbes, Mr West revealed that he would make a final decision on whether he was running for president or not within 30 days – otherwise, he would miss the filing deadline for most US states, and risk not being able to have his name on ballots.

Indeed, the rapper has already missed this deadline in six states so far, according to reports, and betting officials say there is already much speculation about whether the rapper will step up to the task or not.

Darren Hughes, Betfair spokesman, told “There was intense speculation as to whether this was yet another hoax from West to announce an album, or the real deal.

“West’s announcement has been under intense scrutiny over the past few days, but news that he has failed to register as a candidate in many states before the deadline has done little to deter punters, with his odds holding strong for now.”

But even still, Hughes explains Mr Trump’s odds have been boosted since Mr West’s run for president would split the Biden vote, leaving Mr Trump with a higher proportion.

Donald Trump shouting

Pundits think Kanye’s run will boost Trump’s chances by splitting the Biden vote. (Image: Alex Wong / Getty)

Hughes said: “Donald Trump’s odds also contracted off the back of the news, from 15/8 to 13/8, with many suspecting that were West to make true on his promise, he would split the vote with Joe Biden in many key swing states, pushing the election in Trump’s favour.”

In betting terms, Trump’s contracted odds mean that he is more likely to win than he was before.

Hughes continued: “Biden himself has seen his odds go in the opposite direction, from 4/6 late last week, to 8/11 this week, as punters try and make sense of what West’s announcement might mean for the election overall.”

According to BetFair, there has already been £64,000 traded on Mr West’s chance of victory in the presidential election, due to take place this November.

READ: Kanye West announces bombshell US presidential bid with backing from Elon Musk

Trump and Kanye West together

Kanye West has dropped his support for Trump after initially backing him. (Image: Drew Angerer / Getty)

His odds are slim, however. At the time of writing the betting market puts the rapper’s chance of victory at 129/1.

In comparison, current US president Donald Trump’s odds are currently set at 13/8, while main rival Joe Biden is odds on at 8/11.

Hughes added that despite the shake-up caused by West’s announcement, a presidential victory would be very unlikely.

He said: “Overall, a run would seem unlikely, and as his odds suggest, victory even less so.”

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Joe Biden speaking

Bookies still put Joe Biden as the most likely winner, but Trump’s odds have improved. (Image: Sean Rayford / Getty)

“In a market that has already had £44m traded on it, and is on course to smash the record set by the 2016 election, West’s announcement is the latest in a series of twists, which have seen Joe Biden go from 99/1 in early March, right into odds on at 8/11.

“Trump has gone from 4/7 earlier this year, right out to 13/8, having been as big as 2/1 just days ago.”

In his interview with Forbes yesterday, Mr West set out what his administration would look like, including ties with China, his views on controversial issues such as abortion, and his support for Trump.

White House

West will decide within a month whether he is serious about his White House bid. (Image: Prasit photo / Getty)

Mr West also criticised views that his presidential run would split the vote between Biden and himself, stating if Trump was not already running then he himself would run as a Republican candidate.

Mr West said: “That is a form of racism and white supremacy and white control to say that all Black people need to be Democrat and to assume that me running is me splitting the vote.”

However, the rapper said he would be dropping his support for Trump from now on.