AFL Grand Final / Paul Bugeja / 22 December 2010 / Leave a comment Bet Now View Market

Everyone at Betfair is watching the tree carefully, hoping that there might be an 'MCG Christmas present' under it as the once 10-1 Australia storms to Ashes favouritism.

A week ago, Betfair punters were jumping off the Aussie bandwagon like rats fleeing a sinking ship.

Then, showing little sign of staying afloat after a poor start in the third Ashes Test, the Aussies drifted to alarming odds of $11 to regain the urn.

A far cry from the $1.46 offered and taken when Ashes betting opened.

Fast-forward just a few days and the Australian wagon has gained momentum once more, with punters responding accordingly, installing the home team a warm $2.60 favourite to win the Boxing Day Test, and reinstalling them as favourites - presently $2.64 - to reclaim cricket's oldest trophy.

"The Aussies' performance at the WACA couldn't have been timelier...", Betfair spokesman, Jake Norton, said. "Punters are showing Australia the same unbridled respect it commanded for ten years prior to the WACA Test. More importantly, layers have turned England's Boxing Day Test price right out.

"Multiple bets of $25 000 plus have been recorded on Betfair for both Australian and English victories. These are substantial given that Betfair's cricket markets tend not to warm right up until play is under-way, so this Test promises to be a beauty for betting.

"Despite representing the longest odds, the draw has had the best-backed result, accounting for 40% of bets traded on the Test."