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On Tuesday
morning, both Ladbrokes PLC and Paddy Power Betfair PLC said the
real estate tycoon's odds of winning the November election were
now 7/1, compared to 3/1 on Monday. That reduced his chances for
victory to 13 percent from 25 percent on Monday.
Cruz won Monday's Republican Iowa caucuses with 28 percent of
the vote compared with 24 percent for Trump, whose aggressive
and unorthodox campaign has been marked by unorthodox and
controversial stances such as calls to temporarily ban Muslims
from entering the United States or build a wall along the
U.S.-Mexican border.
Senator Marco Rubio of Florida has taken over as the favorite to
become the Republican nominee after a stronger-than-expected
third place finish in the caucuses, Ladbrokes said. His odds for
the nomination were 4/5 on Tuesday, giving him a 56 percent
chance. Trump's odds were 11/4, giving him a 27 percent chance.
"This could be the first sign that the Trump bubble is about to
burst," said Matthew Shaddick, head of political odds at
Ladbrokes, said in a statement. "The betting is now firmly
pointing toward a Clinton-Rubio showdown in November."
Trump's odds have improved since he declared his candidacy in
June, when they were 100/1, giving him a 1 percent chance,
Ladbrokes said.
(Reporting by Anjali Athavaley; Editing by David Gregorio)
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