Pietro Parolin has returned to the top of the betting market to become the next Pope, according to William Hill, as the papal conclave officially gets underway at the Vatican.
Parolin, widely seen as a natural successor to the late Pope Francis, has shortened into 12/5 from 5/2, moving ahead of Luis Antonio Tagle, who has drifted out to 11/4 from 2/1.
The shift in odds sees the Vatican Secretary of State back in pole position just as voting begins.
Matteo Zuppi, the Archbishop of Bologna, has also seen interest, moving into 4/1 from 5/1.
Who is the favourite to become the next Pope?
Pietro Parolin is currently the favourite to become the next Pope, with odds of 12/5 according to William Hill.
What are the current odds for the next Pope?
Pietro Parolin is 12/5, Luis Antonio Tagle is 11/4, Matteo Zuppi is 4/1, Peter Turkson is 5/1, and Pierbattista Pizzaballa is 6/1.
Has the conclave to elect the next Pope started?
Yes, the conclave has officially begun to elect the next Pope.
Where is the conclave taking place?
The conclave is being held at the Vatican, inside the Sistine Chapel.
How is the new Pope chosen?
The new Pope is chosen through a secret ballot vote by the College of Cardinals. A two-thirds majority is required for a candidate to be elected.
Ghanaian Cardinal Peter Turkson is currently priced at 5/1, while Latin Patriarch of Jerusalem, Pierbattista Pizzaballa, has been backed into 6/1 from 8/1.
Parolin has consistently ranked among the frontrunners since markets opened, and betting activity has once again shifted in his favour at this key stage.
Lee Phelps, spokesperson for William Hill, said:
“The conclave has begun to elect the next Pope and it appears that Pietro Parolin, who was replaced as favourite by Luis Antonio Tagle last week, is back in front in the race to become the next pontiff. He has been backed into 12/5 from 5/2 while Tagle is now 11/4 from 2/1.
With the world watching and cardinals now locked in deliberation, all eyes are on the Sistine Chapel. Parolin may lead the market for now, but the path to the papacy is rarely without surprises.
“Matteo Zuppi and Peter Turkson remain firmly in contention, at 4/1 and 5/1 respectively, while Pierbattista Pizzaballa is a mover in the market at 6/1 from 8/1, as we await white plumes of smoke from the Vatican’s Sistine Chapel chimney.”
