Sweden are now the 5/4 favourites to win Eurovision 2012 with United Kingdom and Ireland both also expected to do well in Baku.
Sweden's Loreen is the clear favourite to win this year's Eurovision Song Contest according to Ladbrokes
Following the second semi-final on Thursday evening the bookies have cut her chances of winning to just 5/4, with Loreen's closest competition coming from the Russian Grannies at 5/1 in the market.
Engelbert Humberdinck still continues to be the biggest backed artist in the contest with over 2000 bets placed on him to date, which will see the firm payout over £85,000 in winnings to punters. And anticipating a Eurovision success there's an 8/1 chance the crooner scores a number one UK single this year and 10/1 he gets the nod from The Queen and appears in the New Year's Honours list.
Ireland's Jedward are proving a popular bet in their home nation at 14/1 whilst host country Azerbaijan are among the outsiders at 33/1.
Jessica Bridge of Ladbrokes told Bettingpro:
"We're starting to sweat, and not just because of the sunshine. We've had an unprecedented amount of bets on Engelbert and we'll be handing over the keys to the company if he's victorious in Baku."
Ladbrokes latest betting
United Kingdom 16/1
Bosnia & Herz 100/1
Engelbert Humperdinck specials
To be awarded with a knighthood in the Queen's New Years Honours 10/1
To have a UK number one single in 2012 8/1
To have a UK number one album in 2012 14/1
'Release Me' to be number one in the UK in 2012 4/1
To appear at a UK Festival in 2012 4/1
To be trending worldwide during the Eurovision Song Contest final Evens
To be trending in the UK during the Eurovision Song Contest final 1/10
Engelbert to be the number one baby name for a boy in 2012 100/1