As of 6:15pm, there are no official results out of the Nevada caucuses, but a consortium of news organizations has spotters at over a hundred caucus locations, and they’re reporting that Sanders is going to win, and win very big. If the current numbers are close to accurate, Sanders will possibly get north of 40 percent of the vote, and maybe even above fifty. Joe Biden looks like he’ll come in second place and be viable at over 15 percent. Pete Buttigieg is right on the cusp of fifteen percent. Everyone else looks like they’ll be out of luck.

From the look of things, Sanders is benefitting from getting more second choice votes than Biden, so his lead expands once votes for non-viable candidates are reallocated. There is some exit poll data floating around, too, which indicated that Sanders is doing well with minority voters, and also that Biden is doing much worse in the whiter, northern part of the state than in the more diverse southern part.

If these numbers hold, it will be a tremendous victory for Sanders both because of the size of the win and his delegate haul, and because it will demonstrate that he has substantial support with blacks and Latinos.

Assuming that Biden holds onto second place and gets a chunk of delegates, it will be a decent result for him that could be enough to carry him to victory in South Carolina. He certainly cannot afford anything less than this. But it will be an extremely weak second place. His best hope is that it mortally wounds Klobuchar and to some degree Buttigieg and that he can collect some of their support. Elizabeth Warren really needs to hope that the initial numbers are understating her performance, because if she gets shut out of the delegates in fourth place, it’s going to kill the momentum she got out of a very strong debate. It appears that many of her voters were reallocated to Sanders, and if she cannot continue it will be a boon for him.

Based on these factors, it looks like Bloomberg will probably do more to assure Sanders wins the nomination than he will to hurt him. Without Bloomberg, Biden might be able to consolidate some anti-Sanders support, but he isn’t doing well enough to make a strong argument that he’s better positioned to be the alternative to Sanders than Bloomberg. On the other hand, Bloomberg would have preferred Biden to die a violent death at the polls in Nevada, and that doesn’t look like it happened, either.

It’s not over yet, but Sanders looks like he’s close to winning this thing. He has to be the overwhelming favorite now.