- 33 updates
The Rt Rev Welby urged those winning bets on his appointment as Archbishop of Canterbury to donate the money to local churches.
He added that he would not have backed himself for the job, but was not anti-gambling.
Speaking in Sunderland, he said: "It's a very strange feeling when you find yourself having odds quoted on you at a bookie. Generally speaking I am not a horse, I think that's a really important point to get across."
He went on: "I just thought if people have made money out of this, I think the church should benefit, so give it to your local church."
The Bishop of Durham has said anyone who made money by betting on his appointment as the next Archbishop of Canterbury should make a donation to the church.
Claims emerged of "insider trading" following a run on the Rt Rev Welby, before being rejected by bookmakers. But the bishop today tweeted:
Among the many challenges facing the new Archbishop of Canterbury Justin Welby is that of uniting the Anglican Church at home and abroad.
The issue of gay marriage among others is creating divisions in Africa and the Archbishop will have to tread very carefully.
Home to some 40 million worshipers, Africa is the new home of Anglicanism in terms of numbers.
ITV News' Africa Correspondent Rohit Kachroo reports from South Africa:
The Reverend Stephen Kuhrt of Christ Church in New Malden has given his reaction to the Bishop of Durham appointment as the new Archbishop of Canterbury.
He told ITV News he was "absolutely delighted".
"I think he's going to be fantastic leader, very relevant and credible, thoughtful and courageous", he added.
David Cameron has congratulated the Rt Rev Justin Welby on his appointment as the next Archbishop of Canterbury.
The Prime Minister added that he thought the Bishop of Durham's previous work in business was a "great strength".
The next Archbishop of Canterbury, the Rt Rev Justin Welby spoke of some the challenges facing the Church after his appointment was officially confirmed.
He addressed the issues of women bishops and same-sex marriage.
The Bishop of Durham, the Rt Rev Justin Welby, has paid tribute to the current Archbishop of Canterbury, Dr Rowan Williams.
The Bishop of Durham has been confirmed as the new Archbishop of Canterbury.
When asked what defines him at a news conference, Rt Rev Justin Welby said:
Latest ITV News reports
A new chapter in the history of the Church of England began today as Justin Welby was anointed leader of the divided congregation.
The Bishop of Durham will be officially unveiled as the new Archbishop of Canterbury today.