PUBLISHED: 06:24, Thu, Nov 5, 2020 | UPDATED: 06:24, Thu, Nov 5, 2020
According to Betfair the Democrat Party candidate now has a 87 percent chance of becoming the next leader of the free world. This followed his victories in the crunch states of Wisconsin and Michigan.
The new website, buildbackbetter.com, was created "so that the Biden-Harris administration can hit the ground running".
Both Mr Biden and his rival, Donald Trump, have publicly said they believe they are on the path to victory.
However as more states declare their results Mr Trump’s chances have fallen sharply and he’s been criticised for making unsubstantiated allegations about election rigging.
Ahead of the election Mr Biden was the bookies favourite with a 69 percent chance of victory.
Joe Biden has launched the Build Back Better transition website (Image: GETTY)
Joe Biden addressed the nation on Wednesday alongside Kamala Harris (Image: GETTY)
His position has strengthened over the past 24 hours as more mail in ballots, which disproportionately favour the Democrats, are counted.
On Wednesday the AP news agency called Michigan, a key swing state, for Mr Biden.
In 2016 Mr Trump unexpectedly won the state with a margin of just 0.23 percent of the vote.
The Democrat candidate is now just six electoral college votes away from securing victory.
READ MORE: US Election: Trump tells lawyers ‘pull a rabbit out of a hat’
Vote counting is continuing in a number of states across America (Image: GETTY)