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Donald Trump just became the betting market favorite for the first time

Ivanka Trump tweeted a photo of Donald Trump watching returns come in from their HQ in New York.
Source: Ivanka Trump | Twitter
Ivanka Trump tweeted a photo of Donald Trump watching returns come in from their HQ in New York.

Donald Trump briefly became the betting market's favorite to take the White House, according to Betfair, the world's largest betting exchange.

The odds of Trump or Hillary Clinton winning the nation's highest office have essentially settled to a coin toss, the U.K.-based internet exchange reported on Tuesday evening. On Sunday, wagering on Betfair put the odds of a Clinton victory at 83 percent.

Trump also surged to an all-time contract high on online trading platform PredictIt. The contract doubled in Tuesday's session to a 45 percent chance of taking the presidency.

Betters around the world have placed massive sums on the presidential election. Betfair wagers on the contest had reached $130 million on Sunday, closing in on the $159 drummed up by wagers over Britain's referendum to the leave the European Union, Reuters reported.