US Election: Biden In, Bloomberg Out

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Joe Biden has taken over from Bernie Sanders as the new Democratic frontrunner after winning ten states yesterday, while billionaire Michael Bloomberg has bowed out of the race.

The contest to elect a Democratic Presidential nominee is now down to Biden, whose odds have shortened to $1.12 and Sanders, who is now out to $7.00.

After a slow start, Biden came on strong on Super Tuesday and now has a total of 435 pledged delegates compared to Sanders, who won three states and has 381. Essentially a candidate needs 1,991 delegates to get elected.

California, however, is still to be counted and that could swing things back in Sanders’ favour ahead of next week’s primaries that include Michigan, Missouri and Washington.

Elizabeth Warren, an early favourite, failed to win her home state of Massachusetts and is more than likely to bow out of the race like Bloomberg, who will throw his weight behind Biden.

Hot

Joe Biden: Won Alabama, Arkansas, Massachusetts, Minnesota, North Carolina, Oklahoma, Tennessee, Texas and Virginia. Campaign now in full swing and has garnered support of former candidates Pete Buttigieg, Amy Klobuchar and Michael Bloomberg.
Odds of winning Democratic nomination: $1.12 (in from $3.50 last week and $11.00 two weeks ago)

Bernie Sanders: Won Colorado, Utah and his home state of Vermont. Is projected to win California, which would put him in a neck-and-neck battle with Biden.
Odds of winning Democratic nomination: $7.00 (out from $1.91 last week and $1.83 two weeks ago)

Cold

Elizabeth Warren

Finished third in her homes state of Massachusetts. Can’t see much value in her choosing to remain in the race.
Odds of winning Democratic nomination: $67.00 (out from $41.00 last week and $34.00 two weeks ago)

Michael Bloomberg

Dropped out after spending approximately $800 million on his campaign.

Markets

To win 2020 Democratic Presidential Nomination.

To win 2020 US Presidential Election.

What do you think?