As the third choice among the BetPhoenix American Idol odds priced at +1150, Iraheta, who consistently wowed the judgeswith her a great voice was ousted. But many Idol watchers and voters expected long shot Kris Allen, with odds of+1300, would be the hopeful of the four to be sent packing.

As the only female among the four contestants, she gained significant votes from the female and teen viewing audience, that makes up a large majority of the voting. But in the end, her preternaturally mature voice and an old-soul vibe—more rock queen than pop princess—Iraheta couldn't be saved even after her awesome version of Janis Joplin's “Cry Baby.”

America's most popular show has wound down to just three Idol hopefuls remaining. Judges have said several times that this season's contestants are the strongest in the show's history. If you bet on American Idol, you can't argue that claim because each of the remaining three Idol hopeful has incredible talent and a shot to win. Even long shot Allen, who has made it much further than most anticipated.

American Idol's Top-3 contestants are Adam Lambert, Danny Gokey and Allen. California native Lambert is still the one to beat as the hefty odds on favorite newly priced -300 to become the next Idol. Thus far, Lambert hasn't gone wrong. He's selecting all the right songs and nailing them vocally. Lambert has a big edge with a natural knack for turning any song into his unique own. American Idol wagering investors have to feel good about their chances of him cashing.

Milwaukee, Wisc., Church Music Gokey is listed with the second best odds at +290. Gokey is still being out performed by Lambert. But all it takes is a slip up or bad showing from the favorite, and he could place himself beside the odds on favorite. Gokey again landed the most votes last week.

Gokey is followed by Conway, Ark., resident Allen now priced at +1000. He has been solid throughout the competition but just a step behind the two clear cut favorites, Lambert and Gokey. Allen is the purest musician in this Idol group of three. In addition to being an accomplished singer, in Idol terms, Allen is also proficient with the guitar, piano, viola and ukulele.

On Tuesday, the three finalists will perform a song selected by the judges and a song of their own selection If you're a sports wagering fan, expand your horizons and find out why after eight seasons and more than 300 episodes, Idol is still the most-watched program on television.