X Factor Betting - Joe McElderry New Favourite to Win the Show

Following Danyl Johnson's elimination from X Factor earlier last night bookies Paddy Power make the 18-year old Geordie singing sensation Joe McElderry their odds-on favourite to win next weeks final.

Joe replaced Olly Murs as favourite to win this year's competition two weeks ago and since has been the subject of a sustained gamble that has resulted in his betting odds being slashed into 4/11 for victory next week.

Stacey is second favourite at 4/1 while Olly is the outsider at odds of 9/2 to win and odds-on 5/6 for a bronze medal in the final.

A spokesperson of the bookmaker commented: "Joe may be the baby of the competition but there is nothing juvenile about his singing talent. Louis mentioned on Saturday night that he could be the next big thing and our punters seem to agree. He is now, by far, the contestant with the biggest amount of money riding on his back going into the final."

Latest Betting Odds - X Factor Winner

4/11 Joe McElderry, 4/1 Stacey Soloman, 9/2 Olly Murs

Third Place

5/6 Olly Murs, 11/8 Stacey Soloman, 6/1 Joe McElderry