The last votes to show Mitt Romney’s defeat to Barack Obama in the 2012 US election are still being counted, but the betting is already underway to uncover who will be the Republican nominee in four years time.
One thing that is almost guaranteed is that the group of candidates will have far greater depth and experience in 2016 and it is Paul Ryan that is favourite to lead the party at 5/1.
Romney’s running mate does appear the most likely of the potential candidates and his stock would surely have been elevated, despite losing his quest to become vice president.
The fact that he is from a key swing state in Wisconsin may also work in his favour, while his more purist stance over Romney may appeal to the conservative side of the Republicans.
George Bush’s younger brother Jeb is the other appealing candidate at this early stage at 8/1.
Bush would seem the best candidate for modernising the party to enhance appeal with a growing number of Hispanic voters, an area where Obama enjoyed success this year.
Punters alternatively fancying Donald Trump to be the 2016 Republican nominee can back him at 50/1.
Winning three straight elections will not be easy for the Democrats and so there may also be some value in the 10/1 that Ryan wins the 2016 presidential election, with Bush priced at 16/1 in the same market.
However, it is a Democrat that tops the betting, with Hillary Clinton expected to be the first woman to get into power at 5/1.
The current secretary of state was the heavy favourite to lead the Democrats in 2008 before being overhauled by Obama and has already vowed to leave her current post, suggesting she will be available, albeit a bit old for some.
Joe Biden is another of the bigger names within the Democratic camp and has twice previously attempted to run for president, before pulling out.
He is 16/1 to make it third time lucky.
At a bigger price, Elizabeth Warren has some appeal at 33/1, especially given that she beat Republican hero Scott Brown in the Massachusetts Senate race.
All Odds and Markets are correct as of the date of publishing.