You can bet on 37 nations to win Eurovision 2014 at the time of writing. Yet, if you are a trend-following bettor, you cannot miss the rally of Norway’s implied chance in the winner market. Norway is nowadays a favorite to win Eurovision 2014 at 4.00 coming all the way down from 20.0. Second favorite, Sweden, pays 2.5 times more.
Despite Sweden’s generous odds, I am tempted to tip Norway for the win because of the steady odds’ decline (or chance’s rally). Either way, a Scandinavian country is likely to host Eurovision next year (the winner becomes the next contest’s host).
What is the Norwegian song that will compete in Eurovision 2014? We do not know yet, as semi-finals are starting today with the final selection being made on March 15.
The other two notable betting charts are those of Hungary and UK. Hungary is the third favorite. The odds seem to be consolidating around 15.0. Yet, as long as the odds do not go lower than 10.0 (the lowest odds of a matched bet at betting exchange), I am avoiding a bet on this particular longshot.
In the meantime, UK odds have declined considerably. Although UK had been a huge underdog trading at 50.0 at first, the odds have dropped down to 8.20 before retracing back to 17.50 at this time. The decline may actually resume, while backers keep odds below 20.0. Should that happen, sports traders can win money well before May 6, the day Eurovision 2014 is decided.
Will you follow the trend and put your money on Norway this year, or are you attracted by long shots? Let us know in the comments below.