Rick Santorum on the march in Iowa Republican Caucus race

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RICK SANTORUM is mounting a late surge in his bid to win the Iowa Republican Caucus according to Ladbrokes.

The bookmakers report that his odds of winning the race have plummeted to just 9/4 and continue to shorten meaning it’s highly likely that either Santorum or Ron Paul (also 9/4) will depose Mitt Romney to become the seventh different favourite for the Caucus since betting began. Michelle Bachman drifts to 66/1 and Rick Perry remains 25/1 having been the subject of money in the opening betting heats.

Incumbent President Barack Obama remains odds-on at 8/11 to secure a second term, despite drifting from a low of 1/2 in the immediate aftermath of the killing of Osama Bin Laden last year. Mitt Romney is the 2/1 second favourite and by far the Republican candidate with the shortest odds at this stage from Ron Paul (16/1) and Newt Gingrich (16/1).

Worldwide betting records for money staked on a political event set during the 2008 Election also look likely to be smashed as bookmakers gear up to take over a hundred million pounds worth of bets in addition to money laid from the first day of Obama’s term.

Alex Donohue of Ladbrokes said: “Obama’s victory last time capped off one of the most thrilling exchanges in political betting history. There’s every chance events this year will eclipse that as he clings onto favouritism.”

He added: “Santorum is on the charge at just the right time and he’s the Republican for the hot money in Iowa.”

Ladbrokes latest betting

2011 US Presidential race

Barack Obama – 8/11
Mitt Romney – 2/1
Ron Paul – 16/1
Newt Gingrich – 16/1
Rick Santorum – 33/1
Hilary Clinton – 40/1
Rick Perry – 40/1
John Huntsman – 40/1
Michele Bachmann – 100/1
Gary Johnson – 200/1

Winning Party

Democrats – 7/10
Republicans – 11/10
In dependant – 50/1

Republican Nominee

Mitt Romney – 4/11
Newt Gingrich – 8/1
Ron Paul – 8/1
Rick Santorum – 12/1
Rick Perry – 20/1
Jon Huntsman – 25/1
Michele Bachmann – 50/1

Iowa Republican Caucus

Mitt Romney – 5/4
Ron Paul – 9/4
Rick Santorum – 9/4
Newt Gingrich – 25/1
Rick Perry – 25/1
Michele Bachmann – 66/1
Jon Huntsman – 100/1

Ron Paul Vote share

30%+ – 10/1
25-30% – 5/1
20-25% – 9/4
15-20% – 2/1
10-15% – 9/2
Under 10% – 14/1

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