Cardinals Elect Jorge Mario Bergoglio from Argentina as the Next - FOX44 - Burlington / Plattsburgh News, Weather & Sports

The Papal Conclave

After the first day, Cardinals vote twice in the morning and twice at night.
Two-third majority required to elect a new Pope.
Black smoke means that a pope has not be selected. When a pope has been elected by the Cardinals, white smoke will come out of the Sistine Chapel Smokestack.
Only 80 Cardinals are allowed to vote for a new Pope.

All information provided above is from ABC News