New York City Mayor Michael Bloomberg hasn’t yet won his third term in office, but one leading bookmaker is already paying out bets that he’ll claim victory in Tuesday’s election.[IMGCAP(1)]Irish-based bookmaker Paddy Power announced today that it is suspending all bets on the New York mayoral contest and paying out more than $7,400 in bets for those who backed Bloomberg — the man they labeled as the “bookies red-hot favourite.—The independent Bloomberg’s odds for winning re-election were at 1-100 when betting was suspended Monday, the bookmaker says in a news release. Hizzoner’s opponent, Republican Bill Thompson, had 14-1 odds of claiming victory.“From a betting point of view this race is well and truly over with incumbent Mayor Bloomberg pretty much a certainty for a third term,— Paddy Power announced in the release. “At odds of 1/100 surely nobody could disagree?—Submit your hot tips, juicy gossip or comments here.Can’t get enough HOH? Get a midday dose of fun and gossip with HOH’s One-Minute Recess, delivered to your inbox daily. Sign up here — because everyone deserves more recess.