Trump Loses Nomination Favorite Tag to Rubio, Ladbrokes Says

Billionaire Donald Trump lost the tag of favorite in the race for the Republican presidential nomination, Ladbrokes Plc said, after suffering a surprise loss in Monday’s Iowa caucuses.

Trump’s odds widened to 11/4, a 26 percent chance, from 10/11, 52 percent, Ladbokes said in an e-mailed statement on Tuesday in London. Senator Marco Rubio of Florida is the new favorite to win the nomination, Ladbrokes said.

“This could be the first sign that the Trump bubble is about to burst,” said Matthew Shaddick, head of political odds at Ladbrokes. “The betting is now firmly pointing toward a Clinton-Rubio showdown in November.”

While Senator Ted Cruz of Texas won the Iowa caucuses, Rubio exceeded expectations with a strong third-place finish. With 99 percent of precincts counted in the Republican contest, Cruz led Trump 27.7 percent to 24.3 percent. Rubio trailed close behind with 23.1 percent.

Trump’s odds of winning the presidential race widened to 8/1, 11 percent, from 3/1, 25 percent, Ladbrokes said.

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