Canadian is bookies' favourite for next pope

Canadian Cardinal Marc Ouellet is the bookies’ favourite to become pope after Benedict XVI resigns at the end of the month.

Paddy Power were quick off the mark this morning in offering punts on who would become the next pontiff, with Ghanian Cardinal Peter Turkson taking the initial lead at 9/4.

Cardinal Ouillet, 68-year-old Canadian head of the Vatican’s office for bishops, has since overtaken him as favourite with odds of 5/2 this afternoon, meaning a €2 bet could win a €5 profit.

Cardinal Francis Arinze of Nigeria is in second place at 3/1, with Cardinal Turkson in fourth place at 4/1.

If either Cardinal Arinze or Cardinal Turkson are elected, he would become the first black pope in history.

Italians outnumber all other nationalities in the list of the top 50 candidates on the Paddy Power list, with 14 contenders. The list also features four Americans, three Spaniards, two Argentinians and two Brazilians.

Ireland has three contenders, led by Archbishop Diarmuid Martin whose odds have dropped from 150/1 this morning to 75/1.

The bookmaker is offering odds of 500/1 for Bono and Father Dougal Maguire, both of which have halved from 1000/1 since betting began.

Punts are also being offered on the Papal name that could be taken by the next Pope, with Peter taking the lead at 2/1, followed by Pius at 5/1 and John at 6/1.

Boylesports are taking bets on what age he will be, with odds of 6/4 offered for the 61-64 age bracket.