The stakes are very high. The outcome uncertain. One hundred and eighty-seven men will ruminate for days over who will be the next pope. If you have a good guess, call the Irish book-keeper Paddy Power. According to the BBC, Paddy Power is on call to take bets large and small:

The Catholic Church frowns on such speculation. Treating the papal succession like the 1420 horse race at Newmarket is to risk causing offence.

But Paddy Power's gamble in offering odds on the outcome seems to have paid off. So far there has been no bolt of lightning from the heavens.

The current favourite is Cardinal Francis Arinze of Nigeria, who could become the first African pope for 1,500 years. My bet is on him, but if you have some insider information, do let me know. US Law has no jurisdiction over divine gambling and you will not suffer a la Martha Stewart.