Bret Arends of the Boston Herald says that London bookies "are taking bets from around the world on the ’08 race," and that "[t]hey’re offering good odds to anyone willing to put a few bucks down on our next president being a Republican, and even better if you wager the nominee will be Mitt Romney."

It’s so easy for those of us in Massachusetts to shrug off Romney. But have you seen what they call a statesman elsewhere in the country?

Look at the incumbent.

Among Romney’s rivals, Rudy Giuliani shouldn’t worry him. Giuliani’s a 15 percent shot for the nomination, according to the current betting. But just fast forward to his first meeting with die-hard conservatives in South Carolina’s “Nuremberg” primary.

He’s pro-choice and pro gay rights. And . . . Question from the floor: “Mr. Giuliani, is it true that after your second wife kicked you out for committing adultery you moved in with a gay couple?” Next!

Sen. John McCain, of course, is Romney’s biggest threat. How big? The bookies give him a 45 percent chance for the nomination.

Never mind that the GOP die-hards, for reasons I have never fathomed, don’t really trust him. McCain’s biggest problem may simply be his age. He’ll be 72 by the next inauguration. And - for deeply honorable reasons - he has not had a physically easy life.

As one GOP strategist told me, “Republicans want to get two terms from their presidents.” Will McCain be likely to stay in the White House till he’s 80?

Bottom line, at this early stage, things look good for Romney to win the GOP nomination... Can he win the presidency? Well, how do the London bookies feel about the Democratic competition?

Memo to Democrats: Yes, I know the party just swept both houses, but you’re in bad shape for 2008. You just don’t have anyone who looks competitive. Hillary? Bookies give her a crazy 47 percent chance of winning the nomination, and a 38 percent chance of winning the whole shebang.

Please. Name me a red state she will turn blue. Just one. John Edwards (a 14 percent shot at the nomination)? Two years ago he was half of the worst presidential campaign in history. The weaker half.

Barack Obama may sound good, but he’s just a first term senator and his odds right now are about where Edwards’ are.

And then there’s the rest. Quick - how many can you name? The curious withdrawal from the race of former Virginia Gov. Mark Warner has left a field with little electoral appeal. New Mexico Gov. Bill Richardson (4 percent chance of winning the nomination) is said to be the strongest. The problem: He’s had a total charisma bypass.

In the end, Romney can enter the race as a young enough conservative Republican, who was able to get elected Governor in the dark blue state of Massachusetts.

All in all not bad, not bad at all.

As for the other Massachusetts politician expected to run for president in 2008?

Oh yes, and John Kerry? Sorry John, the money here has you now at 100-1 for the nomination - a 1 percent chance.

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