Favorite to Win Nobel for Literature Is ... Bob Dylan?

A lot of people are apparently pushing for Bob Dylan to win the Nobel for literature tomorrow. As far-fetched as it sounds, the British-based betting company Ladbrokes says the odds of Dylan winning have plunged from 100:1 to 5:1 in the last 24 hours, reports the Guardian. "Everything now points to Dylan taking the prize," says a spokesman. Before rushing to your bookie, however, the Atlantic Wire offers a dose of reality:

"It's likely Dylan's rise is just a magnified version of the natural movement all point spreads and fixed-odds experience as more and more gamblers place their bets," writes Ray Gustini. "Bookmakers adjust their odds based on the amount of action a bet receives, not who they think the most likely winners are." People are just betting on the name because they see other people betting on the name. Thomas Pynchon, meanwhile, is 20:1. (More Nobel Prize in literature stories.)