The Rt Rev Justin Welby, currently Bishop of Durham, is to take on the most senior post in the Church of England early in 2013.
Ladbrokes and William Hill suspended betting on Welby to be named as the next Archbishop of Canterbury last week after a flurry of bets were placed. Ladbrokes has since said it will donate £1000 to Canterbury Cathedral.
Yesterday, the bishop tweeted: "Thought in the night, those who made money betting on me give it to their local church!"
The bishop is a regular Twitter user and has confirmed he will continue in his new role – despite the danger of getting into what he called "deep water".