On Wednesday, for the first time since Herman Cain’s presidential candidacy began gaining traction in September, Newt Gingrich’s betting odds of earning the Republican nomination to run for the presidency have surpassed Cain’s.

Gingrich is trading around 7 percent while Cain hovers near 5 percent. A week ago, before the Cain sexual harassment charges surfaced, the numbers were roughly reversed, with Cain close to 8 percent and Gingrich around 3.5 percent. (For those unfamiliar with Intrade.com, the odds are not set by bookies; instead the site works as an exchange with the prices based on where market participants are willing to buy and sell.)

During this week of turmoil, Mitt Romney’s betting odds have barely changed, going from about 69 percent to 70 percent, while Rick Perry’s odds have actually dropped by almost two percent, from about 12.5 percent to 10.5 percent.

In short, while conventional wisdom is what Romney is the main beneficiary of the chaos surrounding Herman Cain, betting odds tell a different story: the big winner, at least for one week, is Newt Gingrich.

Please read the entirety of my article for the American Spectator here:
http://spectator.org/archives/2011/11/04/gingrich-rises-up-to-glass-cei