U.S. Sen. Tim Kaine of Virginia has emerged as the online betting favorite to be presumptive Democratic presidential nominee Hillary Clinton's running mate, while Bernie Sanders' chances have slipped, online predictions market PredictIt said.

Kaine topped a list of potential vice president candidates with about 20 percent probability, followed by U.S. Sen. Elizabeth Warren of Massachusetts with about 17 percent and U.S. Labor Secretary Tom Perez with about 14 percent.

The website, which allows users to wager small amounts of money, said Sanders' chances of joining Clinton's race for the White House were about 10 percent. Big election wins on Tuesday catapulted Clinton to victory over Sanders, a U.S. senator from Vermont, although he has vowed to go on contesting the race.