US election: Huge clue about whether Donald Trump or Joe Biden will win in November

The US election is fast approaching – and as November 3 draws nearer, millions of eyes have turned to betting agencies for clues as to who will win.

While bookmakers are always at the centre of attention in the lead-up to elections and major sporting matches, speculation has reached a fever pitch this time after the polls sensationally tipped a landslide Hillary Clinton victory in 2016 – only for Donald Trump to ultimately claim the top job.

In 2020, many are seeking an alternative way of predicting the possible outcome – so here's everything you need to know about betting on the 2020 US election.

A man wearing a protective mask to help curb the spread of the coronavirus walks past a screen showing illustrations depicting Trump, left, and Biden. Photo / AP

At the moment, Democratic hopeful Joe Biden is the clear favourite across the major betting sites.

While his edge is narrowing, many believe betting odds offer a more accurate election prediction than polls, as people have invested their own hard-earned cash in the outcome.

According to the 2020 Presidential Election Betting Odds Tracker at OddsShark, Donald Trump was the favourite back in July 2019 – but now, "Biden is a -185 favourite to win the 2020 US presidential election, with Trump coming back at +140".

Democratic hopeful Joe Biden is the clear favourite across the major betting sites. Photo / AP

Bookmaker odds are not favourable to Donald Trump. Photo / AP

These are the odds according to some of the major betting agencies, as of October 26.

Basically, it means for every $1 you put on that candidate you would get the below in return if they won.

TAB

• Biden: $1.52
• Trump: $2.60

Ladbrokes

• Biden: $1.46
• Trump: $2.80

Betfair

• Biden: $1.47
• Trump: $3.10

Sportsbet

• Biden: $1.45
• Trump: $2.85

Neds

• Biden: $1.46
• Trump: $2.80