Bookmaker slashes Trump's 2024 chances after South Carolina rally

An oddsmaker slashed Donald Trump's of winning the 2024 election since his low-energy weekend rally in South Carolina.

The former president is the first serious candidate to officially announce for next year's election, although President Joe Biden is widely expected to seek re-election and a number of Republican challengers are still sitting on the sidelines, but Trump's odds of winning seem to be trending in the wrong direction, reported Newsweek.

"Before he took to the stage at his low-key campaign launch in South Carolina, Donald Trump returned to be the clear favorite at 8/5 to be the 2024 Republican nominee, and since then his odds have continued to shorten and he's now 6/4 to run as president for the Grand Old Party," said Sam Rosbottom, a spokesman for the bookmaker Betfair. "While he's the favorite to be the Republican nominee, it's actually his party opponent, Ron DeSantis who is the 16/5 favorite to win the 2024 presidential election.

Trump's odds improved last week on Irish bookmakers PaddyPower -- from 11/2 into 4/1 -- after Meta, the company that owns Facebook and Instagram, confirmed he would be allowed back on the platforms following his suspension for inciting the Jan. 6 insurrection, but he remains far behind the Florida governor in the eyes of oddsmakers.

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"Donald Trump's chances have shortened, but he's still a way off DeSantis at 5/1," Rosbottom said. "While Joe Biden's chances of winning another term are better than Trump's at 7/2."