Eurovision 2023: Ukraine 7/2 favourites with UK 12/1

• Eurovision final takes place 13 May in Liverpool

• Defending champions Ukraine favourites

• UK 12/1 to improve on last year's second place

Ukraine are 7/2 to become the first country for three decades to win the Eurovision Song Contest in consecutive years.

Not since Ireland complete a hat-trick in 1993 has a nation retained the Eurovision title but, ahead of the contest's official handover ceremony in host city Liverpool tonight, the odds indicate Ukraine can do it.

Usually, the winners host the following year's contest but, with Ukraine still under attack from Russia, the UK stepped in to provide a venue.

Liverpool, a city that has been synonmous with pop since The Beatles' emergence in the early-1960s, will host the final on 13 May.

UK 12/1 to win in 2023

Will the UK benefit from home advantage? Not necessarily, according to the latest Betfair odds which make the UK 12/1 to improve on last year's runner-up finish.

That was their best performance since 1997 when Katrina and the Waves won and, had it not been for the understandable goodwill towards Ukraine, the UK might have triumphed in Turin last May.

It remains to be seen who will represent the UK in 2023 but there are five countries ahead of them in the market.

Sweden follow Ukraine in the betting at 11/2. The country of Abba has won six times but not since 2015.

Italy 8/1 were victorious in 2021 with a memorable entry from the rock band Maneskin.

The Czech Republic and Finland are both 10/1 and the complete the list of countries that are a shorter price than the UK.

The last time Eurovision was held on these shores Israel carried off the prize. They are 22/1 to repeat that win.

There's a long way to go and, with the performers and songs yet to be revealed, there should be plenty of movement in the market between here and 13 May. The anticipation is already building, however, and there's nothing wrong with that.