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The latest edition of American Idol has reached the final round as the original field of thousands has been narrowed down to just 12 remaining contestants. In addition to being one of the most watched shows on television, American Idol has also become popular with online bettors. With the country's largest talent search hitting the home stretch, Pinnacle Sports today announced updated odds on which performer will win the popular vote and become the next American Idol.

Pinnacle Sports became the first sportsbook in the world to offer betting on the hit reality series by offering individual odds on the final 24 Idol contestants in mid-February. With three weeks of performances and betting now done, Chris Daughtry has emerged as the favorite to win the major record deal at 7/2 odds after originally opening at 8/1. Originally deemed a 47/1 long shot by the oddsmakers, Pinnacle Sports now lists Mandisa with the second-best odds at 11/2. After opening as the early favorites to win the competition, Ace Young and Katharine McPhee remain solid contenders at 6/1 odds.

"We've already received a record amount of bets on this series of American Idol and anticipate thousands more wagers as the series draws to a close," said Simon Noble of Pinnacle Sports. "With his performances receiving glowing reviews from even the normally unimpressed Simon Cowell, Chris Daughtry has vaulted into favorite status among both fans and bettors alike."

Pinnacle Sports also lists gray-haired Taylor Hicks in the middle of the pack odds-wise at 15/2, while Elliott Yamin's performances have moved him from having the worst odds at 65/1 to a solid 9/1 contender. Kellie Pickler (10/1), Lisa Tucker (11/1) and Paris Bennett (13/1) have received little backing from bettors to date. Meanwhile, Kevin Covais (40/1), Bucky Covington (50/1) and Melissa McGhee (60/1) remain the biggest long shots to become the next American Idol.

In addition to offering wagering on who'll win the reality series, Pinnacle Sports has created several other betting options. These include contestant match-ups, odds to reach the Idol "Final Four", whether a male or female competitor will win and who'll be eliminated next.