Hilary the favourite for next time

For political punters who cannot get enough of US elections William Hill have opened a market on who will win in four years time. The 6/1 favourite is Hilary Clinton, the Senator from New York and spouse of former President Bill Clinton.

Behind her in the betting is former New York mayor, Rudolph Giuliani at 7/1. Hills also offer: 10/1 John Edwards; Tom Ridge; Bill Richardson; 12/1 Bill Frist; 14/1 Jeb Bush; 25/1 Barack Obama; 40/1 John Kerry; 66/1 Dick Cheney; Arnold Schwarzenegger.

Schwarzenegger, Governor of California, might find problems standing because he was born outside the US which would be against the constitution – although this could be challenged or changed.

With four years to go all these are dumb bets.

An enormous amount can happen in the intervening period and you also have to factor in the cost of locking up your money for so long. Keep away.