FA Cup Outright Odds and Betting Update: Chelsea and Spurs joint-favourites

Tottenham and Chelsea are joint-favourites to win the FA Cup this season following the exits of Premier League leaders Manchester City and Manchster United. Both London clubs can be backed at odds of 7/2 (bet £20 to win £70 profit) with Ladbrokes and Paddy Power. While Spurs are looking to win the competition for the first time in 20 years, Chelsea will be hoping to regain the trophy they lost last season after winning the double 2010.

Andre Villas-Boas's side have long been out of the race for the Premier League title, and although they remain in the Champions League and the hunt for a top four spot, the FA Cup is certainly one of their priorities this season. The Blues will need to turn their form around if they are to justify their position as favourites, however, as they have won just once in a run of five games that included three newly-promoted sides, and showed very little in a 2-0 defeat to Everton last time out. 

Spurs, meanwhile, appear to be in fine form, and thrashed top-four hopefuls Newcastle 5-0 on their last appearance. The North Londoners are competing for the title this season for the first time in years, and Harry Redknapp has assembled one of the best, and certainly one of the most entertaining, teams in England. A fairly straightforward tie away to Stevenage in the next round gives Spurs every chance of reaching the quarter finals, where they will be the team everyone wants to avoid. 

Slightly longer in the betting are Liverpool, conquerors of Manchester United and Carling Cup finalists. Kenny Dalglish's side are an inconsistent bunch, but the returns to action of controversial but brilliant strker Luis Suarez and capatin Steven Gerrard, along with a home tie in the next round against mid-table Championship side Brighton, means Liverpool are no longer than the 4/1 available with Paddy Power.

Next in the betting are Arsenal, available at odds of 6/1 with Coral to end their famous trophy droubt and win their first major competition for seven years. The Gunners lost 4-0 to AC Milan in midweek, effectively ending their Champions League hopes, and although they are, on their day, a force to be reckoned with, many think that day does not come around nearly often enough. Arsenal face face a tough trip to Sunderland in the next round, and may seem far too short in the betting to some punters. 

After beating Chelsea last time out, Everton will be fully confident that they can overcome Blackpool at home in the next round, and the Toffees are available at 12/1 with Bet 365 to win a a competition in which they were beaten finalists in 2009. Another side that struggles for consitency, Everton have their poor spells, but there is enough quality in the team to put in a good cup run if they hit form.

Next in the betting are Sunderland and Stoke, available at 14/1 and 18/1 respectively with Bet 365. Sunderland are arguably the form team in the Premier League following their rejuvenation under Martin O'Neill, but face Arsenal in the next round, while Stoke are the defending champions and will have all the belief in the world after their win over Manchester City in last year's final.

Norwich City and Bolton Wanderers are the final top-flight teams remaining. Norwich have impressed since their promotion to the big leagues and have shown enough to deserve their mid-table spot, with Betfred going 25/1 they can make a good season a great one by lifting the FA Cup. Bolton, meanwhile, have endured a miserable campaign and are as long as 33/1 with Paddy Power to pull off what would be a suprising triumph indeed.

Paddy Power also offer 100/1 on Leicester, who are expensively put-together for a Championship side but have failed to live up to their promise, sitting seven places in the table below Birmingham and eight below Blackpool, who can both be backed at 125/1, also with Paddy Power. 

Brighton are available at 150/1 with the same firm, while Milwall are 200/1 with Blue Square, Crawley are 300/1 with Ladbrokes, and Stevenage are as long as 750/1 with BetVictor.

The next round of games gets under way on Saturday with Chelsea v Birmingham, which kicks off at 12.30 GMT and is live on ESPN. 

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