Michael Bloomberg Enters Democratic Nomination Race; Already a Top-Five Favorite at +1000 Odds

• Former New York mayor Michael Bloomberg is expected to officially enter the race for the 2020 Democratic Presidential nomination within days
• Bloomberg would be the 19th candidate in the running
• Already, he’s at average odds of +1000 to win the nomination

Michael Bloomberg is still currently dipping his toes into the water of the crowded pool of candidates for the 2020 Democratic Presidential race. Already, he’s finding that the temperature is both warm and welcoming.

He’s yet to officially announce his candidacy for President. Regardless, Bloomberg quickly vaulted into the top five contenders for the Democratic nod. On average across the leading sportsbooks, the former New York mayor is listed at +1000 in the Democratic nominee odds.

Oddsmakers list Bloomberg as their fifth betting choice in the Democratic nominee odds at +1000.

2020 Democratic Presidential Nominee Odds

Odds taken on November 16, 2019.

Bloomberg is expected to announce that he’s running for President within days.

Bloomberg Creating Buzz

Sources close to Bloomberg are telling news outlets that he’s expected to enter the Democratic Presidential race before Thanksgiving.

WATCH: Mike Bloomberg says he's "getting closer" to making a decision whether to run for president pic.twitter.com/bzTGvFwANQ

— Bloomberg Originals (@bbgoriginals) November 12, 2019

Originally, Bloomberg announced that he didn’t intend to run for President. But now, he appears to be determining his appeal in the so-called swing states.

Friday, Bloomberg launched a series of anti-Donald Trump ads in Pennsylvania, Wisconsin, Michigan and Arizona.  The billionaire reportedly is spending $100 million on the ad campaign.

Trump is Not a Fan

It’s probably true that in reality President Trump really doesn’t like anyone other than himself. It’s 100 per cent certain he can’t stand Bloomberg.

Trump on Bloomberg's potential 2020 run: "Little Michael will fail…There is nobody I'd rather run against than little Michael."

Someone needs to get him a thesaurus-he's running out of insult adjectives. He already used that one on Little Marco Rubio. pic.twitter.com/3Ih1J6gWbI

— Amee Vanderpool (@girlsreallyrule) November 8, 2019

The suggestion that Bloomberg was getting ready to enter the Democratic Presidential race set the thumbs of the forever thin-skinned reisdent of the Oval Office off and tweeting insults.

"The President would be very intimidated by a guy like Michael Bloomberg," says former White House Communications Director Anthony Scaramucci about a potential presidential run by former New York City Mayor Michael Bloomberg. "It's very clear to me that he would beat Trump." pic.twitter.com/0xtgS0wJMY

— CNN (@CNN) November 9, 2019

Others who know Trump insist this is a sign that he’s fearful of a run against a hardened political campaigner. Bloomberg knows Trump’s game well from their days of butting heads in New York.

Bloomberg has the Resources

There are two daunting challenges facing a late entry into a Presidential election. That’s financial support and infrastructure. This won’t be an issue for Bloomberg.

Forbes estimates Bloomberg’s net worth to be over $15 billion. He spent in excess of $200 million on his three campaigns for mayor of New York. Each time he set new records for spending on a mayoral election.

Bloomberg also has instant name recognition that most late-entry candidates likely wouldn’t.

The knock against him will be that he’s a billionaire businessman. Trump ran on a campaign platform in 2016 that included touting himself as a billionaire who would run the country like a business.

That’s going quite well, don’t you think?

What Does this say About Democratic Field?

That Bloomberg is even considered entering the race, and that the odds instantly suggest that he’s got a real chance of winning seem to indicate a real uncertainty about the candidates that all already running.

There’s a constituency that believes Elizabeth Warren and Bernie Sanders might be too socialist to beat Trump. Pete Buttigieg is thought to be too young and inexperienced in national politics. Then there’s Joe Biden. Despite his experience and name recognition, he’s mistake-prone and comes across as a lightweight.

My instinct, fwiw, is that Bloomberg's chances are being underrated by my fellow commenters on this fine and perspicacious website. He surely has an uphill road. Still, the fact that he actually is well qualified to be president might matter more to voters than tweeters think.

— Bill Kristol (@BillKristol) November 8, 2019

Bloomberg isn’t the only non-entrant drawing interest on the odds board. Hillary Clinton, the 2020 Democratic Presidential nominee, is at +1400.

At +1000, Bloomberg might just be worth a small wager.