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Clinton favored to win White House

"Hillary Clinton has regained her front-runner status after her huge win in New Hampshire -- and the betting odds reflect that," said Budin. "She had dropped to 3-2 odds after Iowa but she's back to 1-1 (even money). However, Rudy Giuliani has the best betting value now -- he will jump to 2-1 if he wins Florida, so grab the 8-1 now while you can."

New York City Mayor Michael Bloomberg and former Vice President Al Gore, both of whom have said they have no plans to enter the presidential race, are listed at 10-1 odds and 5-1 odds, respectively. Meanwhile, Dennis Kucinich has the longest odds at 250-1.

Americans have been betting on the outcome of presidential elections since 1914. Historically, the game-time favorite has won every election except one -- Bush/Kerry in 2004. Budin credits that loss to the advent of the Internet.

"With the Internet we saw the birth of the $5 bettor who tends to be a Democrat," he said. "In previous years betting on elections was dominated by the rich, and you know what party the rich tend to be, unless you are John Edwards of course. The Democrats came out in droves to bet Kerry online, but unfortunately they never showed up at the polls to back up that $5 bet."

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