The five cities looking to host the 2012 Summer Games submitted bids to the International Olympic Committee (news - web sites) on Monday, entering the final stage of a long process in hopes of landing one of the biggest prizes in sports. [snip]British bookmaker Ladbrokes on Monday installed Paris as the 1-2 favorite to host its third Olympics after holding the games in 1900 and 1924. London, the 1908 and 1948 host, was at 3-1, with Madrid at 4-1, New York at 14-1 and Moscow, the 1980 host, at 33-1. Paris has much of the infrastructure in place after hosting...