Biden’s Odds of Winning Democratic Nomination Drop 30% After Debate

( – Following the June 27 debate, President Joe Biden‘s chances of winning the presidential nomination for the Democratic Party dropped by almost 30 percent on the betting website Predict It.

Over the course of the debate between Biden and former President Donald Trump, the price of a share for Biden’s chances of winning the nomination fell to 61 cents, down from 85 cents before the debate began. Despite the fall during the debate, the price of a share recovered to 72 cents.

A research project run by Victoria University of Wellington in New Zealand, Predict It allows people to buy shares, priced between 1 and 99 cents, to bet on the outcome of certain events. If an event occurs, the person making the bet receives $1 per share.

Predict It was not the only betting website to see a decline in support for Biden. Following the debate, another betting website, the U.K.-based Betfair, had the odds of Biden winning in November decreased to 22.2 percent from 38.1 percent. The odds of Trump winning in November increased to 63.6 percent from 61.9 percent.

In April, the two candidates were tied. However, Trump now “has the punters’ firm backing to be the next U.S. president,” according to Betfair spokesperson Sam Rosbottom.

Biden’s uncertain responses and how he repeatedly froze, misspoke, and made false claims have caused a renewed focus on his age and mental capability. During the debate, Biden made the claim that “We finally beat Medicare.” Polls have previously shown that voters are concerned with the age of both candidates. At 81, Biden is the oldest U.S. president in history, and if he wins reelection, he would be 86 at the end of a second term.

Biden’s performance sparked “panic” within the Democratic Party, according to CNN chief national correspondent John King.

Despite calls for Biden to drop out from political commentators and Democrats, Biden has stated he will remain in the race.

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