Betting on politics: the senatorial contest in West Virginia

Senator Joe Manchin will have a tough fight on his hands if he wants to get re-elected, says Matthew Partridge.

913-Manchin-634

Joe Manchin: ahead in polls
(Image credit: 2017 Getty Images)

Over the past week, thiscolumn has had twosuccesses and one failure. The victory of theSocial Democrats in the Swedish elections meant that both my tip to lay the Sweden Democrats, and my suggestion that you should bet on the Social Democrats to get most seats, paid off. It also briefly looked like my tipon Donald Trump visiting Ireland during his first term was also going to win. However, while it hasn't been definitively cancelled, itnow seems likely to bepostponed.

Turning back to America, one interesting midterm race is the senatorial contest in West Virginia. Over thepast two decades West Virginia has moved from being Democratic-leaning to strongly Republican, thanks inpart to perceptions that the GOP is more sympathetic to the coal industry. Donald Trump romped home in 2016, winning nearly 70% of the vote and sweeping every county. However, in 2010 former governor Joe Manchin managed to get elected as senator, in an otherwise dismal year for the Democrats.

Six years on from thatupset victory, many people speculated that Manchin would have atough fight on his hands if he wanted to get re-elected. But his combination of populist economics and social conservatism has resonated enough for him to enjoy a comfortable lead against the Republican challenger, Patrick Morrisey. I think that Manchin is likely to hang on, so you should take Paddy Power's 8/13 (61.9%), on a Democratic victory in November.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Dr Matthew Partridge
MoneyWeek Shares editor