Cardinals are set to go into conclave on Monday in the Sistine Chapel to find a successor to Pope John Paul II
Favourites emerge in Pope betting
6.01PM, Thu Apr 14 2005
Punters are backing three specific cardinals to be the next Pope, according to bookmakers.
Paddy Power has said Germany's Joseph Ratzinger, 77, and France's Jean-Marie Lustiger, 78, are its joint favourites, both at 4-1.
Cardinal Lustiger, the only Jewish-born prelate of modern times, has come from nowhere to top the list - two weeks ago he was at 20-1.
Meanwhile, William Hill has Nigerian candidate Francis Arinze as its 9-2 favourite. If chosen he would become the first African pope for over 1,500 years.
Cardinal Arinze, who works as the Vatican's liaison for relations with Islam, is the subject of William Hill's largest bet so far - £500.
William Hill has nine Italians in its Top 20 favourites, and has cardinals Lustiger and Ratzinger as second and third favourites.
Cardinals are set to go into conclave on Monday in the Sistine Chapel to find a successor to Pope John Paul II.
Initially a two-thirds majority among the 115 electors is required to select a new pontiff - but this can be changed to a majority vote if no decision can be made.
The selection of the new Pope will be marked by white smoke from the Vatican's chimneys. This will be accompanied for the first time by the ringing of bells. Black smoke means no decision has yet been reached.
The Sistine Chapel; Papal conclave starts later this week
The Irish bookmaker, Paddy Power, has described this weeks conclave in the Vatican as ''"getting to be a bigger non-sporting betting event than the Oscars Hollywood movie awards."''

The bookmaker has been taking bets all week on who will be the next Pope, with Joseph Cardinal Ratzinger the 3-1 favourite. Second favorite was a Frenchman; Jean-Marie Cardinal Lustiger. The betting firm revealed that one customer has placed €1,000 (US$1,287) on the former Jew.

In third place is a 78 year old Italian, Carlo Maria Cardinal Martini. Like the late Pope John Paul II, Martini has Parkinson's disease and is quite conservative. He was also a close confidante of John Paul II who debated with the theologian on Church dogma.