What are Kamala Harris' odds to be next U.S. president after picking Tim Walz as VP?

The race for the 2024 U.S. Presidential campaign heated up Tuesday morning as Minnesota Gov. Tim Walz will be Democratic nominee Kamala Harris' running mate for the upcoming election in November.

With the announcement of Walz as Harris' VP, the betting odds on who will win the 2024 Presidential election have started to shift ahead of November's vote:

Here's the latest on who's the betting favorite to become the next President of the United States:

*Disclaimer: Federal law prohibits political wagering in the United States, including the 2024 Presidential Election

2024 Presidential election odds: Kamala Harris vs Donald Trump

Less than 24 hours ago, former President Donald Trump was a -138 favorite (Bet $138 to win $100) on bet365 to be elected President of the United States for a second time while Harris sat at +110 (Bet $100 to win $110) in the betting market.

Since the announcement of Walz as Harris' VP choice, Trump's 45th President odds have worsened, as he currently sits as a -111 favorite (Bet $111 to win $100) via oddschecker.com on Tuesday morning.

With these current numbers, Trump moves from a 58 percent chance of winning to more of a 50-50 call between him and Harris.

This boost for the current Vice President of the United States in not uncommon, as each side usually has the numbers go in their favor following a VP pick or when there's either the Democratic or Republican National Convention going on, with the RNC in the rear view mirror and the DNC getting underway two weeks from now on Aug. 19 to Aug. 22 at the United Center in Chicago, Illinois.

With Trump choosing J.D. Vance, a senator from Ohio as his running mate and the Republican National Convention roughly a month old, it wouldn't be surprising to see Harris and Walz shorten the gap even more to an actual 50/50 favorite after the DNC wraps up in the Windy City later this month.

Accuracy of Presidential elections odds in history

Once the Democratic National Convention comes to an end, it'll be important to see what the numbers on different sportsbooks turn out to be.

According to the Conversation, the odds-on-favorite in the Presidential election has only lost twice since 1866.

One of those upsets was Trump himself, when he overcame 7/2 odds (22.22 implied win probability) to defeat Hilary Clinton, the Democratic nominee in the 2016 Presidential election.

If Harris and Walz can raise the numbers enough where they have the slight advantage coming out of Chicago, it could be there race to lose given the 158-year track record of the favorite becoming President.

However, if Trump's still the odds-on-favorite come the end of the August, it will all but likely be his election to lose as he would become President of the United States for the second time in three terms.

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This article originally appeared on NorthJersey.com: Kamala Harris' odds to be U.S. President in 2024 after picking Tim Walz as VP