A British gambling company just revealed that more bets have been placed on former First Lady Michelle Obama becoming the next president of the United States than have been placed on President Joe Biden winning reelection. 

The gambling company is Betfair Exchange.

Great Britain News reports, "According to Betfair, the former First Lady has had more bets placed on her to be the next US President, compared to incumbent Joe Biden."

This comes after significant speculation that Obama, at some point, will enter into the race for the U.S. presidency, taking Biden's spot on the Democratic ticket in 2024. There will be more on this in a moment.

The numbers

More bets have been placed on Obama, but not by a huge margin.

"In shocking statistics, 10.9% of bets on the Betfair Exchange marker this year so far have been placed on Michelle Obama becoming the country's 47th President," Great Britain News reports. The outlet adds, "In comparison, Joe Biden, who is running for re-election has only had 10.6% of bets placed on him."

In other words, the betting is close. But, Great Britain News highlights a couple of reasons why this result is so surprising.

First, the outlet notes that this is a really low percentage for Biden considering that "only 10 out of the previous 45 Presidents lost when running for a second term." Second, the outlet notes that Obama is currently beating Biden - in terms of election chances - despite the fact that Obama is not even a candidate.

On a side note, former President Donald Trump, according to Betfair, is the odds-on favorite to win the presidency in 2024. Trump has a 45% chance of winning, while Biden only has a 33% chance.

Will Obama take Biden's place?

The former first lady has insisted that she will not, but this has not stopped the speculation.

The speculation has continued for several reasons, including that voters - even Democratic voters - do not seem to want Biden to have another four years in office.

In a recent poll, from The Center Square Voters' Voice, Democratic and "true independent" participants selected Obama to be America's next president. Obama outstripped Biden, 24% to 20%.

Then, it was Obama herself who recently reignited the speculation during an interview in which she claimed that she was "terrified" about what could happen in the 2024 election. Many have taken this to mean that she is "terrified" of a Trump victory, which is what the polls are suggesting.

At the moment, it is anyone's guess how things are going to play out. But, for the time being, Biden - despite losing to Obama in the polls and in betting circles - remains the Democrats' candidate, while Obama remains on the sidelines.