It's actually legal to bet on races in Europe and in other places where people with less morals live. As with most things interesting or possibly immoral, you can make these bets and view current handicapping on-line. (https://www.bwin.com/motorbikes)
Current odds for the Valencia MotoGP show the four "aliens" (Rossi, Stoner, Lorenzo and Pedrosa) to have a decent shot at the top spot. No great shakes in the prediction department there. The next rider, however, or first mortal, for the odds-makers to pick as a potential winner of Valencia? None other than Ben Spies.
While some might feel better picking the American as a winner if he'd actually ever ridden the bike before in his life, but after the incredibly successful season that Spies had in '09 WSBK, who would suggest that a win at Valencia isn't at least possible?
It's interesting that odds-makers give Spies a better shot at winning Valencia than Colin Edwards, Nick Hayden, Loris Capirossi or Andrea Dovizioso.