This time next year, we will be poring over the results of the US Presidential Election and Congress. 2023 was an ‘off year’ for national elections but this week still had some big races and significant results. The news was overwhelmingly good for Democrats.

Democrats outperforming expectations

In the key swing state of Virginia, they defied predictions of a dead-heat to take control of both Houses. Republican Governor Glenn Youngkin’s vague presidential hopes went up in flames. Andy Beshear won a second term as Governor of deep-red Kentucky. Watch out for that name in future.

Elsewhere in local races, numerous unlikely, pro-Trump districts turned blue. In Ohio, a referendum codified abortion rights. Whilst Brandon Presley couldn’t pull off a miraculous upset in the Mississippi Governor’s race, the narrow margin of defeat was seen as yet another good Democrat result, in keeping with other local and special election results this year.

So, a ringing endorsement of Joe Biden, which could propel him to a second term? Not so fast. Betfair markets remain distinctly unimpressed, with the current incumbent of the White House available to back at 3.35, equating to a mere 30% chance.

Betfair markets remain distinctly unimpressed, with the current incumbent of the White House available to back at 3.35, equating to a mere 30% chance.

Swing state polls catastrophic for Biden

Prior to Tuesday’s voting, a series of very grim general election polls had instilled fear into Democrats, showing Biden losing to Donald Trump in the key states that will determine the electoral college and therefore, the presidency.

Siena / New York Times swing-state polls · 3,662 likely voters
Wisconsin
DeSantis48%
Biden44%
Pennsylvania
DeSantis47%
Biden43%
Nevada
DeSantis45%
Biden41%
Arizona
DeSantis46%
Biden42%
Georgia
DeSantis45%
Biden44%
Michigan
Biden44%
DeSantis43%
Morning Consult / Bloomberg News polls
Pennsylvania
Trump47%
Biden44%
North Carolina
Trump48%
Biden39%
Arizona
Trump46%
Biden42%
Georgia
Trump48%
Biden41%
Nevada
Trump46%
Biden43%
Wisconsin
Trump47%
Biden46%
Emerson swing-state poll · 4,303 likely voters
Nevada
Trump47%
Biden44%
Georgia
Trump49%
Biden41%
Pennsylvania
Trump49%
Biden45%
Arizona
Trump46%
Biden44%
Wisconsin
Trump45%
Biden45%
Michigan
Biden44%
Trump43%

Worse numbers, by my reckoning, can be found below these headline figures. Biden’s average approval rating is a pitiful 38.7%.

Have these policies helped or hurt you personally? · 3,662 registered voters, 22 Oct – 3 Nov
Joe Biden’s policies
Helped35%
Hurt53%
Donald Trump’s policies
Helped51%
Hurt34%
Stamina and sharpness to serve as president
Donald Trump
Yes53%
No47%
Joe Biden
Yes25%
No74%

One must remember, these dire comparisons are against Trump. The most toxic, polarizing figure in US political history. A man facing financial ruin in court, and 91 criminal indictments on extremely serious charges. A man whose ‘strong disapprovals’ dwarfed any other. Whom Biden managed to marshall an astonishing 81M people to turn out and vote against.

Biden’s approvals have fallen substantially since and one must wonder how on Earth he will be able to repeat that unified, determined effort. When these polls put Biden up against a ‘generic Republican’, he loses a landslide. And yet this is set against the context of really good results for Democrats.

Originally published at betting.betfair.com on 12 November 2023 and republished on The Political Gambler Substack.