Australian Open Betting Odds: Novak Djokovic, Serena Williams Favorites

With the start of the 2015 Australian Open just days away, Novak Djokovic has emerged as a strong 1-1 favorite to claim the victory at this season’s first major tournament at sportsbooks monitored by Odds Shark.

The 27-year-old Serb, who enters the tournament perched comfortably atop the ATP Singles Rankings, will be gunning for his fifth Australian Open title and his eighth career Grand Slam win.

Djokovic came up short in his last event, falling to Ivo Karlovic in three sets in the semi-final of the recent Qatar ExxonMobil Open. However, he was nearly unstoppable down the stretch last season, claiming victory in three of his last four ATP events, with the sole exception being a semi-final loss to rival Roger Federer in the Shanghai Masters.

Not surprisingly, it is Federer who closely trails Djokovic in Australian Open betting, with odds of 5-1 at the sportsbooks. The 33-year-old native of Switzerland is coming off a hard-fought win over Canadian Milos Raonic at this month’s Brisbane International and will be shooting for his fifth career Australian Open title and his first since 2010.

Scotsman Andy Murray is pegged at 7-1 in Australian Open betting. Murray has made three appearances in the Australian Open men’s singles final but has yet to raise the hardware, twice losing to Djokovic after losing to Federer in 2010.

Rafael Nadal rounds out the list of favorites among the men, with odds of 10-1, followed by Kei Nishikori and last year’s champion Stan Wawrinka at 12-1. Raonic—who enjoyed a breakthrough season in 2014, rising to No. 8 in the ATP rankings—enters the tournament with distant odds of 33-1.

On the women’s side, Serena Williams gets the nod as the favorite to claim her sixth Australian Open title, with odds of 9-4 at the sportsbooks.

The 33-year-old American will be making her first appearance of 2015 after wrapping up last season with a decisive 6-3, 6-0 win over Simona Halep to take the crown at the WTA Championships.

Maria Sharapova is closely pursuing Williams on the Australian Open betting lines. The 27-year-old sports odds of 5-1 to claim her sixth career Grand Slam title and her first Australian Open title since 2008.

Halep trails with odds of 7-1, followed by Petra Kvitova at 9-1 and Victoria Azarenka at 10-1, while Caroline Wozniacki and Eugenie Bouchard round out the top tier of betting favorites with odds of 12-1.