Michael Ignatieff is the odds on favourite to win the Liberal Party of Canada leadership, according to online betting Web site www.pinnaclesports.com.

The site lists the current MP for Etobicoke-Lakeshore at 5/9 odds while his former college roommate (and former premier of Ontario) Bob Rae is his closest contender at 7/2.

“Obviously we’re predominantly sports betting so the political bets, although it’s certainly a new and exciting area of our company, it does pale in comparison with the amount of wagers we would receive on an average NHL game,” said Pinnacle Sports UK CEO Simon Noble. “But it’s becoming increasingly more popular.”

Noble said that Pinnacle Sports has had every federal election listed on the site since Jean Chr