Michele Bachmann Odds of Winning Iowa Caucus Now Greater Than 50 Percent

The Intrade crowd has Tea Party darling Michele Bachmann’s chances of winning the Iowa caucus just slightly better than 50 percent and perhaps with good reason.

Iowa kicks off the primary and caucus season and Ms. Bachmann certainly has the edge there.  She was born and, for a brief time, raised in Iowa.  Her family of "Norwegian Lutheran Democrats" moved to Minnesota while she was still young.  Her ties to Iowa’s Evangelical voters should also boost her chances there. 

Bachmann officially announced her campaign on Monday (June 27). 

"I seek the presidency not for vanity, but because America is at a crucial moment," Bachmann told supporters and reporters on the lawn of the Snowden House. "I believe that we must make a bold choice if we are to secure the promise of our future."

Bachmann’s odds of winning the Republican nomination were now at 14 percent, up from around 7 percent just over a month ago. 

- Aaron Goldstein, Gambling911.com