The XX Overtake Dizzee Rascal as Favourites to Win Mercury Prize

Music fans with a taste for gambling have piled money on the XX to win this year's Barclaycard Mercury Prize, with the betting odds getting dramatically smaller since they were first published.

When the shortlist for the award was unveiled yesterday (July 20), bookies William Hill immediately installed the south London trio, along with Dizzee Rascal, as joint favourites to bag it at 4/1. Since then, the XX have shortened considerably to 15/8, while the East End rapper, already a winner in 2003, has sunk to 8/1.

Also fancied in the early running are Mumford and Sons -- up from 6/1 to 9/2 -- with Wild Beasts just behind at 5/1, having started at 8/1.

With her second appearance on the list, Laura Marling has dropped to 8/1, despite critical acclaim for her second album 'I Speak Because I Can.'

Still, the true outsiders on the 12-strong shortlist are Biffy Clyro, currently trading at 16/1, ranked jointly with jazz selection, the Kit Downes Trio.

William Hill's Graham Sharpe described the running as pretty tight, saying, "This quality is reflected in the closeness of the odds we've given."

The winner will be announced on Sept. 7, during a show broadcast live on BBC2. For the full list of the betting odds, go here.