Catholic Church Appoints New Leading Figure: New Pope Chosen
Blunt Talk: Here's the lowdown on the new Pope situation.
The smoke has risen from Vatican City's Sistine Chapel chimney, signifying a fresh Pope has been elected following Pope Francis' demise. The cardinals elected after a morning and afternoon session could've gone for a progressive Pope like Luis Antonio Tagle or taken a more centrist approach with a choice like Peter Erdo.
As of this writing, online crypto prediction market Polymarket shows Cardinal Pietro Parolin is the frontrunner at 63%, with Tagle at 25%. However, regulated sportsbooks in the US aren't taking bets on the Pope, though a few in Ontario are offering markets.
Historically, gambling on Papal elections has been common since the Renaissance, with Romans even wagering on the naming of cardinals and papal reigns. The Vatican once responded with Cogit Nos, which imposed excommunication for gambling on the Papacy, but this was overturned in 1918.
In recent years, the Church has seen a divide between progressives and traditionalists, making a middle-ground candidate like Parolin or Tagle a safer bet in the current climate.
UK bookmaker BetVictor's trader David Merry mentioned that betting on the Pope has been relatively stable and popular there.
Keep in mind, other candidates like Matteo Zuppi, Peter Turkson, Pierbattista Pizzaballa, and Fridolin Ambongo Besungu are also in the running, although their odds vary across bookmakers. The dynamic nature of the betting market means the situation could change as the conclave progresses.
Following the unexpected demise of Pope Francis, there's a new Pope election, with Cardinal Pietro Parolin leading as the frontrunner on the online crypto prediction market Polymarket. In contrast, regulated sportsbooks in the United States decline to take bets on the Pope, but some in Ontario offer markets. Remarkably, the Church's internal divide between progressives and traditionalists, coupled with the historical interest in gambling on such events, might indicate a continued fascination with sports-betting on the Pope, as suggested by the relatively stable and popular bets on the Pope in the UK through BetVictor, despite other candidates like Matteo Zuppi, Peter Turkson, Pierbattista Pizzaballa, and Fridolin Ambongo Besungu being part of the election as well.
