Ted Cruz, who is expected...

...to announce for president today, has a 2.2 percent chance of winning the Republican nomination, according to PredictWise. That's just slightly ahead of Gov. Rick "Oops" Perry.

Over at Paddy Power, the Irish betting website, Cruz is a 12/1 long shot to become the next GOP standard-bearer. The junior senator from Texas is tied with Paul Ryan, who isn't even running for president.

Since he's already considered a pariah among his Republican colleagues in Washington, what exactly does Cruz expect to accomplish with such a dark horse campaign?

Here's a little free advice for GOP chairman Reince Priebus: Expect trouble.