London, Nov 4 : Ireland's largest bookmaker, Paddy Power, has slashed its odds on proof being found of God's existence to just 4-1.
Ever since the betting opened just two months ago, people who hope to have their faith proved correct have placed 5,000 pounds with Paddy Power.
The bet, which was placed on the big question of the existence of God, was made in September, to coincide with the switching on of the Large Hadron Collider that physicists' hope may lead to the discovery of an elusive sub-atomic object called the "God particle".
At the start, the odds that proof would be found of God's existence were 20-1, and then they extended to 33-1 when the multi-billion pound atom smasher was shut down temporarily because of a magnetic failure.
The wager has managed to increase interest greatly following the recent launch of a campaign to have atheist adverts placed on London buses declaring, "there's probably no God".
As a result of a flurry of small bets Paddy Power, has cut the odds on proof being found of God's existence to just 4-1, and the bookmaker stands to lose more than 50,000 pounds if proof emerges to justify religious belief.
A spokesman for Paddy Power said that confirmation of God's existence would have to be verified by scientists and given by an independent authority before any payouts were made, however.
"The atheists' planned advertising campaign seems to have renewed the debate in pubs and around office water-coolers as to whether there is a God and we've seen some of that being transferred into bets," the Telegraph quoted him as saying.
"However we advise anyone still not sure of God's existence to maybe hedge their bets for now, just in case," he added.
Paddy Power's book on the theological topic was only opened this year, but the notion that it is a good idea to gamble on God's existence was first put forward in the 17th Century.
The French philosopher Blaise Pascal argued that although God's existence cannot be proven through reason, it makes sense to have religious faith since a person has everything to gain - an "infinitely happy life" - and nothing to lose by doing so.