By this time, you likely know the name of the new pope. But leading up to the conclave in early March, speculation on the new pontiff turned into a betting game. Just hours after Pope Benedict XVI announced his resignation, Irish bookmaker Paddy Power announced odds. It’s illegal to place bets on the pope in the U.S. — even in Nevada — because it’s considered an election. Plenty of foreign bookmakers, however, capitalized on what they said could be the biggest moneymaker ever outside of sporting events.
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