British bookmakers on Wednesday slashed the odds on businessman Donald Trump winning the Republican nomination to run for the U.S. presidency after his latest victory in the Nevada caucuses.

Trump, once considered a rank outsider attracting odds of 200-1, is now the firm favorite after his latest decisive win, his third out of four in the early nominating contests, the British bookmakers said.

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"Mr. Trump has triumphed yet again, despite political analysts almost unanimously writing him off as a serious presidential contender," said Graham Sharpe from William Hill, adding one customer stood to collect at least $100,000 if Trump was ultimately elected to the White House.

William Hill and Betway make Trump a 1-2 favorite to get the Republican nod, while Ladbrokes cut his odds to 4-9 while his gamblers could get odds of 6-1 on his nearest rival Mark Rubio. They also markedly cut the odds on Trump becoming president, although he still trails Democrat front-runner Hillary Clinton.

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"Trump's on a roll and heading into Super Tuesday, he's looking home and hosed," said Jessica Bridge from Ladbrokes. "Even the poorly educated can probably work out that he's [the] favorite with the bookies."