British betting site gives Bachmann best odds of winning Iowa Caucuses; Obama at 1 to 2 for general election

The British bookmaking site Ladbrokes.com handicaps the Iowa GOP Presidential Caucuses with Waterloo native and Minnesota Congresswoman Michele Bachmann in the lead spot at 5 to 2. (Bet $200 to win $500)

Michele Bachmann 5/2
Tim Pawlenty 3/1
Mitt Romney 7/2
Sarah Palin 7/1
Jon Huntsman 8/1
Herman Cain 8/1
Rick Perry 8/1
Rick Santorum 20/1
Newt Gingrich 25/1
Ron Paul 25/1
Gary Johnson 33/1

Here is how Ladbrokes handicaps the general election -- giving President Obama Triple Crown horse odds of 1/2 -- and dropping Mrs. Bachmann into the long-shot arena.

Barack Obama 1/2
Mitt Romney 5/1
Tim Pawlenty 12/1
Rick Perry 14/1
Jon Huntsman 20/1
Michele Bachmann 25/1
Sarah Palin 33/1
Herman Cain 40/1
Rudy Giuliani 50/1
Ron Paul 66/1
Newt Gingrich 66/1
Rick Santorum 100/1
Gary Johnson 100/1

And here are Ladbrokes' odds on the identity of the Republican presidential nominee ...

Mitt Romney 11/8
Tim Pawlenty 4/1
Rick Perry 5/1
Michele Bachmann 8/1
Jon Huntsman 10/1
Sarah Palin 14/1
Rudy Giuliani 20/1
Herman Cain 20/1
Newt Gingrich 33/1
Ron Paul 40/1
Rick Santorum 66/1
Gary Johnson 66/1