Kanye West's presidential bid will only hurt Joe Biden's chances of winning, betting site predicts

An online betting site predicts that rapper Kanye West's presidential bid will only serve only to hurt former Vice President Joe Biden's chances of winning the 2020 presidential election.

West announced his presidential bid on July 4.

In a tweet, the rapper wrote, "We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States! #2020VISION."

What are the details?

Bet Online opened on Sunday with West added at 100/1 odds — or +10,000 — to win the 2020 presidential election, according to The Wrap.

Biden, the site's favorite, moved down from 5/9 (or -180) to 5/8 (or -160) odds, and President Donald Trump's odds improved with West's announcement, moving from 3/2 (or +150) to 13/10 (or +130).

According to Bovada, a politics odds and futures site, West's odds of winning the election are +6,000. His popularity is nearly the same as that of Vice President Mike Pence, who sits at +6,600. 2016 presidential candidate Hillary Clinton is at +5,000 to win, and former First Lady Michelle Obama sits at +8,000.

Tesla and SpaceX CEO Elon Musk endorsed West shortly after his announcement.

On Twitter, Musk told West, "You have my full support!"

What else?

Both the Republican and Democratic Parties have their presumptive nominees — Trump and Biden, respectively — and the deadline to file as an independent candidate has passed in a many states, including Indiana, Maine, New Mexico, New York, North Carolina, and Texas.