latest Betfair odds

[SPC]

Why were betting markets so bearish on Romney four years ago? It seemed pretty obvious he was going to get the nomination by default, and even adding up all those names seemed to imply that bettors thought there was a 10% chance someone else would get the nomination.

[SPC]

25% is not 45%, although I suppose it may have been fair to give field a 10% chance when Perry and Santorum both emerged out of nowhere to become major contenders at one point.