If you don’t have a sense of humour, read no farther! An Episcopal site in the USA has been keeping an eye on the Canterbury stakes and the following is based on its research.
You can not only see the current line the bookmakers have on who might be the next Archbishop of Canterbury but you can look at the history of those odds.
The site that shows the current odds on nominees considered to have a chance to be in the running is at:
http://www.oddschecker.com/specials/politics-and-election/next-archbishop-of-canterbury/winner
For the history of the odds for any of those listed, click on a name on the main page to see the history for that person.
Fully realising that most of those who may read this column never actually have gambled in a bookmakers… the following explanation is offered
Take the example of the Paddy Power column. Christopher Cocksworth is listed as 6/4. That means, say our American cousins, if you bet a pound on him and he’s chosen you’ll get your pound back plus 6/4 of a pound.
Richard Chartres is listed as 12, meaning 12/1 or 12 to 1. That means if you bet a pound on him and he’s chosen you’ll get your pound back plus 12 more pounds. (If you want to get an explanation of this see Wikipedia : .)
Another thing, the bookmakers aren’t oddsmakers so much as they are adjusting the odds so that those who bet against Cocksworth (by choosing someone else) would pay off those who bet on Cocksworth.
Bookmakers aren’t taking risks. They’re setting the odds so they have no risk and yet guarantee themselves something left over essentially by attaching odds so they don’t add up to 100%.
It’s really no different from an insurance company making money figuring out the actuarially fair odds and then offering odds that are slightly unfair. Why only slightly? — competition.
According to the bookmakers, it appears that right now it’s Christopher Cocksworth to win, Graham James to place, and John Sentamu to show.
On this side of the Atlantic, we just wonder what are the odds on the prayers of the faithful and the Holy Spirit upsetting the bookies predictions. Could the favourite stumble and fall after the Third Collect?
By the way, do you happen to know who is keeping a book on the Armagh Plate? It certainly is a much smaller field with fewer outstanding records of form which perhaps deters the interest of the professional bookies.
The Archdeacon of Fairyhouse