Irish Bookmakers Make Gingrich Odds on Favorite in Iowa

Irish bookmakers Paddy Power have made former House Speaker Newt Gingrich an 8-15 favorite to win Iowa, and he's now even money with former Massachusetts Gov. Mitt Romney, both at 5-4 odds, to capture the Republican presidential nomination.

However, the oddsmakers continue to have President Barack Obama as the favorite to win next November.

They didn't release odds of the GOP field for the Jan. 31 Florida primary.

It should be noted that these are the same oddsmakers who in August had Gingrich's chance to be president even, at 100-1, with actor Matt Damon. Texas Gov. Rick Perry was at 7-2 and Romney at 5-1.Damon was also given a 66-1 shot to upset Obama for the Democratic nomination, which should add a big round of skepticism to the odds.

They also gave odds to Paris Hilton and Laura Bush -- both 500-1.

Anyway, in a release Monday, Paddy Power moved Rep. Ron Paul, R-Texas, into second place in the Iowa Caucus, ahead of Romney, with 10-3 odds. Romney's odds are 4-1.

Texas Gov. Rick Perry and former Pennsylvania Sen. Rick Santorum both have 16-1 odds on winning the caucus. Rep. Michele Bachmann, R-Minn., has 33-1 odds and former Utah Gov. Jon Hunstman stands at 50-1.

For the GOP nomination, Paul is third at 12-1, Hunstman stands at 16-1, Perry is 20-1, Santorum 33-1 and Bachmann is the long shot at 50-1. In the presidential contest, Gingrich and Romney are the closest to Obama, with 3-1 odds from Paddy Power.The field quickly separates, with Paul at 20-1.

Secretary of State Hillary Clinton is given 40-1 odds, while Vice President Joe Biden stands at 100-1.