05/03/2011 12:33 pm ET | Updated Jul 03, 2011

Obama Reelection 71 Percent Likely After Bin Laden Kill, Says Irish Bookmaker

More bad news for the fledgling Republican presidential field.

Ireland’s largest bookmaker slashed the odds on President Barack Obama winning reelection from 4-7 to 2-5 thanks to his triumph in hunting down and killing Osama bin Laden.

Paddy Power
said the incumbent now has the shortest odds of securing a second term since he took office in January of 2009. Obama now has a 71 percent probability of winning four more years in the White House.

The company recalculated its odds based on scores of bets that rolled in Monday morning after news broke that the mastermind of the 9/11 attacks was no more.

“Recent events in Pakistan have literally whipped punters into a frenzy with more bets placed on President Obama in the past 24-hours that in the past six months,” said company spokesman Ken Robertson.

Among GOP contenders, former Massachussetts Gov. Mitt Romney has the next best odds of winning the 2012 election, at 10-1. Indiana Gov. Mitch Daniels is at 12-1 odds.

Alaska Gov.-turned-TV star Sarah Palin, Sen. John Thune (R-S.D.) and Gen. David Petraeus -- who recently accepted a new job as the next head of the CIA -- each are pegged as 16-1 candidates. That is better than former Govs. Tim Pawlenty (Minn.), at 18-1, or Mike Huckabee (Ark.), a 22-1 shot.

Here are the other GOP long-shots, according the Irish bookie (who may not be as familiar with the more provincial political newcomers):

Rep. Michele Bachmann (Minn.), 28-1
Rep. Ron Paul (Texas), 33-1
Former Gov. Jon Huntsman (Utah), 33-1
Ex-House Speaker Newt Gingrich (Ga.), 33-1
Real estate mogul Donald Trump, 33-1
Sen. Marco Rubio (Fla.), 33-1
Gov. Chris Christie (N.J.), 50-1
Former Gov. Gary Johnson (N.M.), 50-1
Ex-New York City Mayor Rudolph Giuliani, 66-1
Former Sen. Rick Santorum (Penn.), 66-1
Sen. Rand Paul (Ky.), 66-1
Sen. Scott Brown (Mass.), 100-1
Rep. Paul Ryan (Wis.), 100-1
Businessman Herman Cain, 125-1
Activist Fred Karger, 150-1

At 1,000-1 odds, the longest shots were heiress Paris Hilton and Laura Bush, the wife of former President George W. Bush.