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Joe Biden is favored in the Democratic nominee odds

Back in 1980, following an economic recession and international embarrassment involving Iran, President Jimmy Carter faced an inter-party squabble when Senator Ted Kennedy tried to snatch the presidential nomination from him during the Democratic National Convention.

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For now, 18 months into his first term, President Joe Biden isn’t facing a direct challenge like that, but that’s not to say that come 2023 some allies on the left won’t look to improve their odds for a 2024 Democratic presidential nomination.

2024 Democratic Nominee Odds: Biden Remains The Favorite

Typically, this early in one’s first term, the president is afforded the benefit of the doubt and enjoys minus-money odds to be his party’s nominee in an effort to earn another four years.

However, following Donald Trump’s presidency and the current state of divided politics, President Joe Biden isn’t afforded anything. Although his low approval rating rivals that of Jimmy Carter, Biden remains the odds favorite to win the 2024 Democratic presidential nomination at +200.

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2024 Democratic Nominee Odds

CandidateCurrentOpening
Joe Biden+200+250
Kamala Harris+330+300
Pete Buttigieg+900+1600
Hillary Clinton+900+5000
Elizabeth Warren+1600+1200
Michelle Obama+2200+1200
Beto O’Rourke+2500N/A
Alexandria Ocasio-Cortez+3300+1000
Amy Klobuchar+3300+2500

Odds as of June 13 at Bovada

Vice-President Kamala Harris, who became the first woman to hold the elected office position, enjoys +330 odds to win the 2024 nomination should Biden yield.

However, Harris – like her boss – has not only endured public relations hurdles and gaffes from dealing with the southern border crisis to word salad comments made regarding Russia’s invasion of Ukraine, but she has also experienced a lot of staff turnover with high-profile names leaving their positions. The optics on her vice-presidency have been sub-optimal to date.

Biden Or Harris: Which Candidate Has Better Value?

At this juncture in early June 2022, I don’t see how Biden wins re-election against Trump or most Republican favorites. He has plenty of time to assuage doubters, but it’ll be an uphill climb.

Whether or not Vice-President Harris can win in 2024 is irrelevant, but she does possess the better value at +330 to earn the nomination.

By the time November 2024 rolls around, President Biden will be nearly 82 years old. He’ll have dealt with the aftershocks of COVID-19, economic inflation, a war in eastern Europe, controversial Supreme Court rulings and more.

That’s a lot for a healthy 50-year-old to handle, let alone somebody entering their ninth decade on the planet.

Is There More Value Elsewhere On The 2024 Democratic Nominee Oddsboard?

In short, a resounding YES. And not to bury the lede and all apologies to New Yorkers looking to back former governor Andrew Cuomo (+6600) and NYC Mayor Michael Bloomberg (+8000), but your bankroll is best used elsewhere.

Democratic candidate Bloomberg blew through nearly $1 billion of his own money and didn’t even sniff the nomination back in 2020.

Looking down the list of potential candidates with greater value, I’d skip over Pete Buttigieg, Hillary Clinton, Elizabeth Warren and even Michelle Obama – simply because I don’t think she’ll run.

This leaves Beto O’Rourke at 25-to-1 odds as a potential value play on the board. At 49 years old, he’d be a little older than Barack Obama when he took office back in 2008. Yet, the two share the same charisma and passion for the position of commander in chief.

Following the school shooting in Uvalde, Texas, O’Rourke took it upon himself to show up at a press conference hosted by Republican Governor Greg Abbott and Lieutenant Governor Dan Patrick and challenge them to a call for gun rights reform.

Politicians are always criticized for being all talk. Well, O’Rourke took action, albeit the first step even to challenge authority. If he continues down that aggressive political path, he could hear his name called at the 2024 Democratic National Convention in Atlanta, Chicago, New York City or Houston.