Despite losing last year, Wild Oats XI has been installed as the $1.42 favourite with online bookmaker sportsbet to win the 2012 Sydney to Hobart race.

Ragamuffin Loyal has been tipped to give Wild Oats XI the biggest competition at $3.50, with Lahana ($10), Wild Thing ($13) and Black Jack ($29) next in the market.

“It was the short priced favourite last year but couldn’t get over the line. We are tipping it will bounce back with a point to prove,” said sportsbet.com.au’s Shaun Anderson.

Market courtesy of Sportsbet.com.au

2012 Sydney to Hobart Winner

$1.42 Wild Oats XI

$3.50 Ragamuffin Loyal

$10 Lahana
$13 Wild Thing

$29 Black Jack
$51 Ichi Ban, Ambersail, Dump Truck, Duende, Brindabella
$67 Loki
$81 Living Doll
$101 Merit, Southern Excellence
$151 Shogun