Joe Biden Favored to Win 2020 Democratic Nomination Following Presidential Announcement

• More than 20 candidates are vying to win the Democratic Party’s Presidential nomination
• Bernie Sanders has raised $18 million in the first three months of 2019
• Joe Biden is the current favorite, according to the oddsmakers

Former US Vice President Joe Biden has finally announced his run for office in 2020. Long deemed to be among the favorites, his Democratic Party Presidential nomination odds have improved significantly now that he’s made it official. But is Biden the best bet for the group, or are there better options? Let’s take a closer look.

2020 Democratic Party Nomination Odds

*Odds taken April 25. 

Biden Has Big Impact on the Odds

Biden was among the favorites when he was on the cusp of announcing but now that he has, he’s made a big impact on the odds. He’s now a +330 favorite, which is a jump from the +450 he was on April 5th across a number of top online sportsbooks. As for his biggest rivals – Bernie Sanders and Kamala Harris – both have dropped. Harris was +370 and is now at +520 while Sanders has gone from +310 to +370.

Biden Faces Challenges

We still have a very long way to go before the 2020 US Election, but Biden’s rollout has been anything but smooth. With GropeGate weighing on people’s minds, he’s going to get asked a lot of questions now that he’s fully in the public eye. How he handles those answers will determine his lasting power.

Will Obama Endorsement Help or Hurt?

A few years ago, this would have been a no-brainer, but nowadays some people will wonder about whether an endorsement from former President Barack Obama will help or hurt Joe Biden. The Democratic Party is in a very progressive mood these days and both Obama and Biden might seem too moderate for them.

While Obama is still a revered political figure, he’s not exactly a model of innovation. Will an endorsement show that the party is heading back to where it came from? Many young voters don’t want to go that way as options like Beto O’Rourke and Pete Buttigieg offer a turn to the new.

Biden Has National Notoriety

One huge factor in Biden’s favor is that he has national notoriety. That’s why he’s favored right now. Guys like Mayor Pete, Harris, and O’Rourke are popular in pockets, but they don’t have the brand name recognition of Biden nationally, and that’s a big deal. That alone gives Biden a huge leg up for fundraising and garnering votes.

Bet on Mayor Pete

If I was betting this right now, I’d take a shot with Mayor Pete. This is a guy who looks like he can cater to the masses in his party. He’s a gay man with a progressive mindset, so he appeals to the progressives. He’s also a mostly moderate democrat who is proposing change, but nothing as drastic as Elizabeth Warren. This will also appeal.

Mayor Pete also seems to be the most in touch with the young crowd. He speaks well in public, which the older generations will appreciate, but he seems to have these viral moments that get passed around social media enough to really elevate his platform.

His odds have come down quite a bit from the +700 he started with, but I view him as having the least issues, as of right now.

Biden has to fight with GropeGate, the fact that he’s a turn to the past, and that he’s another rich, white male. Sanders is raising a lot of money and is probably the best threat right now, but he’s a very left option that some may not want to go with. Warren’s big ideas will get her notice but few really see her as Presidential material. And while Harris has the look, she’s struggling to gain notoriety.

Mayor Pete would be my bet at this point as I expect him to continue to rise.