After watching the debate a few weeks ago, it seemed obvious to all of the world that Joe Biden was unfit for the presidency and immediately sportsbooks began to take notice. During the debate itself, Biden's odds were moving and continued to move all the way up until he officially bowed out. That left the country in a state of confusion about who would be the official nominee, but as they do most times, the books had already adjusted the lines to Harris.
As soon as Kamala Harris had officially started her campaign, the odds had shifted drastically in her favor to represent the Democratic Party this November, and her odds to win the White House were also on the move. Before the debate, Joe Biden sat as the presumptive favorite to win reelection. The debate brought that number down to a slight underdog, and when there was an attempt on Donald Trump's life and the heroic aftermath, Biden's odds dipped once more. When the dust settled, Joe Biden was about a 2 to 1 underdog to Trump and falling.
The next week was chaos with the speculation about Biden's health. Harris is now the official nominee and sportsbooks look at her as a substantial underdog to win the election. Harris now sits at just under a 2 to 1 underdog across international and offshore sportsbooks. Odd makers still have President Trump as a -200 favorite, which was just as large as the day after the assassin's bullet missed him.
There are still markets for others to take the Democratic nomination, but the odds are certainly in Harris's favor. To beat Trump though the odds become Buster Douglas-like long shots. Michelle Obama can still be had at +2000 odds, Hillary is +4000, RFK is +5000 as is Gavin Newsome and Gretchen Witmer.
If the odds tell us anything, it's that Joe Biden's lowest odds to win the presidency is exactly what Kamala Harris's odds are now. She has some work to do in the eyes of the bookmakers if she wants any chance at chasing down #45.