While the actual election is still well over a year away, in less than five months the Iowa caucus will take place, the first contest in the cycle of caucuses and primaries that will determine who will face Donald Trump as the Democratic candidate.
Betfair and Smarkets both have online markets on the Iowa caucus, but they aren’t liquid enough to be worth betting on, with only £59 and £128 wagered respectively. This leaves bookmakers Ladbrokes, which has Elizabeth Warren as the favourite at 7/4 (36.3%), followed by Joe Biden at 3/1 (25%), Bernie Sanders at 4/1 (20%), Pete Buttigieg at 8/1 (11.1%), Kamala Harris at 10/1 (9%) and Andrew Yang at 16/1 (5.8%). Besides the more mainstream candidates, Ladbrokes is also allowing you to bet on a long tail of also-rans, including new-age guru Marianne Williamson (pictured) at 200/1 (0.5%) – though I would not recommend that you take those bets.
At the moment Warren seems to be surging, reinforced by the fact that Biden’s campaign team are now downplaying his chances of winning in Iowa. Still, Biden remains ahead in some polls, so I’d recommend that you bet on Biden, Warren and Harris for combined odds of 70.3%. I’d recommend splitting a hypothetical £10 betting unit by putting £5.16 on Warren, £3.56 on Biden and £1.28 on Harris.