Some analysis from the Times.
If this were right, then it would mean that the Cardinal's candidacy was floating around for a while before Paddy Power heard about it - which was around the time that Cardinal Murphy O'Connor's resignation was not accepted. That would add weight to a theory that MO'C was asked to stay on so that Cardinal Pell could enjoy, and make a success of, World Youth Day in Sydney before moving on.
(In fact, imagine if the Pope announced this on World Youth Day!)
This beast has legs!