President Donald Trump and Democratic Nominee Joe Biden face off in a heated final US 2020 Presidential Debate ahead of the election on November 3rd.

Who will win – Joe Biden, or Donald Trump? Picture: Jim Watson and Saul Loeb, AFPSource:AFP

The US election is fast approaching – and as November 3 draws nearer, millions of eyes have turned to betting agencies for clues as to who will win.

Though sports betting in Mexico has been legal for over a decade, it was only recently that the Mexican sportsbook industry evolved and became regulated and legal. The majority of sports betting in Mexico that took place in the 1990s was illegal. Today, players are able to bet on various sporting events online using sportsbooks. According to the 2020 Presidential Election Betting Odds Tracker at OddsShark, Donald Trump was the favourite back in July 2019 – but now, “Biden is a -185 favourite to win the 2020 US.

While bookmakers are always at the centre of attention in the lead up to elections and major sporting matches, speculation has reached a fever pitch this time after the polls sensationally tipped a landslide Hillary Clinton victory in 2016 – only for Donald Trump to ultimate claim the top job.

In 2020, many are seeking an alternative way of predicting the possible outcome – so here’s everything you need to know about betting on the 2020 US election.

WHAT ARE THE ODDS?

At the moment, Democratic hopeful Joe Biden is the clear favourite across the major betting sites.

In the final days before the election, Mr Biden’s odds have shortened slightly with Betfair having him at $1.45 to win.

While his edge is narrowing, many believe betting odds offer a more accurate election prediction than polls, as people have invested their own hard-earned cash in the outcome.

According to the 2020 Presidential Election Betting Odds Tracker at OddsShark, Donald Trump was the favourite back in July 2019 – but now, “Biden is a -185 favourite to win the 2020 US presidential election, with Trump coming back at +140”.

These are the odds according to some of the major betting agencies, as of October 28.

Basically, it means for every $1 you put on that candidate you would get the below in return if they won.

• Biden: $1.61

• Trump: $2.35

LADBROKES

• Biden: $1.50

• Trump: $2.70

• Biden: $1.45

• Trump: $2.96

• Biden: $1.50

• Trump: $2.75

• Biden: $1.50

• Trump: $2.70

RELATED: FBI reveals ‘major’ election security breach

Joe Biden is the clear favourite – but bookies got it wrong last time around when they predicted a Clinton win. Picture: David Gannon/AFPSource:AFP

DIFFERENT BETS YOU CAN MAKE

All eyes are on the big one – whether it will be Joe Biden or Donald Trump in the White House for the next four years.

But there are also a string of other bets on the table.

For example, bets are also being taken on the number of electoral college votes each candidate will receive, who will win the popular vote, the state electoral college winner, the state margin, seat margin, US Senate winner and many more.

For example, Mr Trump is paying $4.50 to win the popular vote compared to Mr Biden’s $1.18 (the candidate to get the most votes across America).

In 2016, Ms Clinton won the popular vote but still lost the election.

ODDS BEFORE 2016 ELECTION

When Donald Trump took on Hillary Clinton in the 2016 election, it wasn’t just the pollsters that got the outcome disastrously wrong – the betting sites also incorrectly predicted a Clinton victory.

In fact, Irish bookmaker Paddy Power failed so spectacularly it ended up with a £4 million ($A7,399,793) bill after prematurely paying out £800,000 $A1,479,958) to those who had backed Hillary Clinton ahead of Donald Trump’s shock win.

According to OddsShark, Mr Trump’s odds to win the 2016 election were close to 5-to-1 on election day eve.

RELATED: Stars rush to publicly defend Chris Pratt

Punters can bet on the ultimate winner as well as a sting of side bets. Picture: Kamil Krzaczynski/AFPSource:AFP

HOW TO BET

Betting on political elections is very much illegal in all 50 states in the US.

However, the same rules don’t apply in other countries, which means betting agencies based in Australia, the UK and other nations are open for business, with most companies allowing punters to place a bet online.

According to Fortune, gambling insiders are expecting the previous record set in 2016 to be broken again this year, with some bookies expecting the election to be even bigger than the Super Bowl where betting in concerned.

USA will be out for revenge when they take on Mexico at MetLife Stadium in Friday's international friendly.

The Stars and Stripes suffered a painful defeat against their neighbours in July's Gold Cup final, going down 1-0 at Chicago's Soldier Field.

USA vs Mexico latest odds

They are priced at 11/5 (3.20) with bet365 to avenge that result straight away by coming out on top in the first game since the final.

Editors' Picks

Usa Vs Mexico Betting Odds

Including penalty shootouts and extra-time, Gerardo Martino boasts a 100 per cent winning record in his 10 matches at the helm, and can be backed at 5/4 (2.25) to extend that with another victory here.

The guests did draw two of their last three matches en route to lifting the Gold Cup, and you can get odds of 9/4 (3.25) on them being held to another stalemate in New Jersey.

USA vs Mexico team news

Tyler Adams, Matt Miazga, DeAndre Yedlin and Timothy Weah are all unavailable due to injury. Jozy Altidore and Michael Bradley have been left out of a squad that contains potential debutants Miles Robinson, Paxton Pomykal and Sergino Dest.

Key players including Hector Herrera, Javier Hernandez, Hirving Lozano and Miguel Layun have all joined up with the squad, having all missed the Gold Cup due to personal or fitness issues.

USA vs Mexico preview

While most will view this a rematch of the recent Gold Cup final, Gregg Berhalter is clearly looking to the future by including some promising youngsters in a squad lacking the experience of Bradley and Altidore.

Although an admirable ambition, the rejigged line-up will be up against it to overcome an El Tri team that looks even stronger than the one that emerged victorious in July's meeting.

USA vs Mexico predictions

With some star names back in the fold, those 5/4 (2.25) odds seem like solid value on Mexico making their quality count against a USA side in transition.

All odds correct at time of publish. Please gamble responsibly.

Usa Vs Mexico Betting Odds

Mexico to win for a 1pt stake at 5/4 (2.25) with bet365