We’re only 13 months away from the 2024 US Presidential election, believe it or not. That means time is ticking for Joe Biden to win back support before the election because right now, things aren’t trending in the right direction for him and the Democrats. Bettors that can predict Biden’s approval trend over the next month could make a hefty payout as we'll explain in this article if you keep reading!
Biden Approval Rating At Historic Lows
Biden is one of the least-liked presidents of all time if recent polls are to suggest. That’s because an NBC poll released in August said Biden’s approval rating was a meager 41 percent vs. a disapproval rating of 47 percent. Those numbers trend underneath recent presidents like Presidents Trump, Barack Obama, George W. Bush, and Bill Clinton during the same time of their presidencies.
Quite frankly, that’s not going to win him a general election. The best political betting sites agree too because for the first time, Trump has surpassed Biden as the favorite to win the 2024 election. He’s at +165, while the incumbent is currently +175. The Democrats have to be in panic mode with 2024 just around the corner.
So what’s going wrong for Biden? Well, a lot. However, if we could put on our partisan glasses on for a moment, the state of the economy is the biggest hindrance against Biden. Inflation remains high, and it’s impacting everyone’s wallet. Gas, groceries, fast food — everything is higher prices than before. Salaries have not kept pace so many Americans are getting antsy.
Yet, Biden is quick to bring up economic achievements when speaking publicly — record low employment and jobs added, mainly. We get the strategy, we really do as Biden wants to change the narrative. But when the majority of the public feels their wallets tightening, touting becomes tone-deaf.
The elephant in the room for Biden and the Democrats? Things could very well get worse economics-wise. There are multiple danger signs that a recession is near — a hard one too, no “soft landing” as has been mentioned. Interest rates continue to sour. Student loan payments restarted this month. Credit card debt is at all-time highs. Unemployment is now rising.
Eventually, something has to break right? We’re betting analysts, not economists, but the writing feels on the wall. There was a lot of BS during the pandemic with lockdowns, supply chain, money printing, and good ol' American price gouging. Eventually, someone (the American public) will have to pay the price for those actions.
Biden Approval Rating Betting Pick
That’s right, you can bet on what Biden’s approval rating will be down the line. Right now, there’s a line on where things stand come November 1. Here are the betting options available:
| Outcome |  |  |  |
|---|---|---|---|
| 44% or higher | +5000 | +5000 | +5000 |
| 43% - 43.99% | +2000 | +2000 | +2000 |
| 42% - 42.99% | +400 | +400 | +400 |
| 41% - 41.99% | +250 | +250 | +250 |
| 40% - 40.99% | +175 | +175 | +175 |
| 39% - 39.99% | +275 | +275 | +275 |
| Under 39% | +400 | +400 | +400 |
Economic collapses are hard to forecast for the next month or so, therefore, let’s look at immediate things that could happen in October that can swing Biden’s approval ratings. The one that’s top of mind is the House Speaker. In an unprecedented move, Kevin McCarthy was ousted from the role after only nine months.
Some of you may be thinking, “well, how does that affect Biden?” Well, a lot. You see, the speaker leads all of the chamber. With no one in the role, the chamber is essentially paralyzed and can’t pass any bill. Nothing.
This is awful timing because the government funding, which was just agreed to, is scheduled to end on November 17. Before then, a new bill has to be passed or else the government — and regular Americans who get paid by them — get shut down. Obviously, that’s a nightmare situation for Biden if salaried workers get stiffed.
Without McCarthy, Biden might’ve lost an ally too. Technically, McCarthy is a Republican in name. However, he’s drawn criticism from his own party for “playing nice” with Biden. McCarthy is said to have helped Biden with Ukraine war funding, which is increasingly becoming a source of topic for the American public who are turning against it.
You can’t help but look around and see nothing but issues mounting for Biden. That’s why our money says his approval rating dips under 41 percent. We think betting between 40% and 40.99% is the sweet spot. Take that line right now before it mixes anymore!
How To Bet On Politics?
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