Adelsons Give President Campaign $75M, But Biden Raises $383M, Trump $248M in September

Posted on: October 16, 2020, 08:29h. 

Last updated on: October 19, 2020, 08:43h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Former Vice President Joe Biden’s 2020 presidential campaign raked in $383 million last month, easily topping the president’s $247.8 million haul.

President Donald Trump and Joe Biden are spending heavily to try and woo over any remaining undecided voters. (Image: AP)

Fundraising disclosures from the Biden campaign and Democratic National Committee revealed that $383 million was contributed to efforts backing the 77-year-old’s White House aspirations. The Republican National Committee and associated groups raised $135.2 million less for Trump.

Billionaires Sheldon Adelson and wife Dr. Miriam Adelson were the largest GOP donors last month. Together, they gave $50 million to Preserve America, a super PAC funding Trump’s reelection. The contribution follows an August donation of $25 million to the same PAC. The couple controls the Las Vegas Sands casino empire.

With just 18 days until November 3, chaos surrounds the presidential race. Recently published emails allegedly to and from Hunter Biden detail his business dealings in Ukraine and China. The documents also claim his father possibly used his influence as VP to help his son. The emails are being investigated by the FBI. Meanwhile, Trump is telling Americans that Biden will pack the Supreme Court if elected.

Biden and the Democrats are criticizing Trump and Republican Senators for moving forward with the Supreme Court confirmation process of Amy Coney Barrett. They also say her appointment threatens Obamacare, the high court scheduled to review the law after the election.

Despite numerous talking points and controversies, Biden has maintained his 2020 betting lead. On PredictIt, his shares of winning the election are trading at 66 cents. Last Friday, his shares were trading just slightly higher at 68 cents. 

Odds Stagnant

The AP reports that Biden’s campaign received a boost in donor enthusiasm following the death of Supreme Court Justice Ruth Bader Ginsburg. Trump is back on the campaign trail following his COVID-19 positive diagnosis and recovery, the president desperately trying to rally up his supporters with a little more than two weeks from Election Day.

Bettors aren’t yet buying a Trump comeback. UK oddsmaker William Hill has Biden at 1/2 – the same line as it was a week ago. The odds imply Biden having a 66.67 percent chance of evicting Trump from the White House.

Trump has remained the underdog. He’s at 8/5 (implied odds 38.46 percent). That’s just slightly better from last week when the president stood at 13/8 (38.1 percent).

The Real Clear Politics polling average gives Biden an 8.9-point lead.

Worse yet for Republicans is that Democrats hold betting leads to retain control of the House of Representatives (1/8), and take back the Senate (4/7).

Finish Line Sprint

Americans will be inundated with political radio and television commercials, mailings, robocalls and texts, and social media posts over the final two weeks of the 2020 race.

Per the Federal Election Committee, the Biden campaign has $432 million remaining in its arsenal. Trump has $251 million.

Andy Abboud, the Adelsons’ top government advisor, said recently that his bosses “are 110 percent behind the president.” That might mean the billionaires, worth an estimated $30 billion, will give more to Trump’s reelection in the final days to fuel a last-minute advertising blitz.