Democrats' Chances of Winning House and Senate, According to Bookmakers

The Democrats are unlikely to retain control over both chambers of Congress after November's crunch midterms, according to the latest odds from the bookies.

In less than two weeks, voters head to the polls in elections that could see the Republicans take both the Senate and House of Representatives and severely restrict President Joe Biden's legislative agenda.

Currently, control of the senate is split evenly between the two parties, with Vice President Kamala Harris providing the tie-breaking vote when needed.

In the House, the situation is clearer with 220 Democrats enjoying a slim majority over the 212 GOP representatives.

However, according to the latest odds from British bookmaker Betfair, the Democrats' chances of holding both chambers of Congress are very low.

As of Tuesday October 25, the bookie is offering odds of 66/1 on the Democrats keeping both the Senate and House, meaning a $1 stake will get you $66 back if they do.

By contrast, Betfair is giving odds of 1/20 on the GOP seizing both chambers.

Speaking to Newsweek, Betfair spokesperson Katie Baylis said economic concerns have pushed the Republicans into the lead.

She said: "Whilst the Democrats are both in control of the House and Senate now, we foresee a change occurring as midterm polls tighten and a red wave is noticeably taking over.

"The Republicans lead in polls on those issues that are currently most important to voters such as economy, health and inflation and are big odds-on favs at 1/20 to win the Senate and House."

As of Tuesday evening, election analysis website FiveThirtyEight gave the GOP an 81 percent chance of taking the House in November, versus 19 percent for the Democrats.

Earlier in October, polling from The Washington Post/ABC News found the economy and inflation were the top two concerns of American voters, with the Republicans enjoying leads on both issues.

Of those surveyed 54 percent said they trusted the GOP to do a better job running the economy, versus 37 percent for the Democrats.

Speaking to Newsweek, Robert Singh, a politics professor at Birkbeck, University of London, said it was normal for the economy to assert itself as the dominant issue ahead of elections.

He said: "Midterm elections, and for that matter, presidential elections too, typically hinge on the state of the economy.

"Although there was much speculation that the abortion issue would be critical, this has largely been eclipsed by pocketbook issues, which is normal."

Democrats did receive a polling jump after the Supreme Court overturned Roe v. Wade in June but their polls have fallen as fuel prices and the cost of living continue to bite.

On Tuesday, Democrat John Fetterman received a boost in the high-stakes Pennsylvania Senate election when he was endorsed by independent candidate Everett Stern, who dropped out of the race.

Stern tweeted: "I am polling around 3% which places Democracy at risk.

"In the interest of protecting the United States I am dropping out of the U.S Senate Race in PA. I fully endorse John Fetterman. The Democrats must win. PA must be Blue. It has been an honor running."