India 3/1 to win first Test and 9/4 to win series

Can Harbhajan repeat his wicket-taking heroics of 2001? He is decent value at 9/4 to be the top Indian bowler in the series © Getty Images

India are rated as slight outsiders before the start of the Test series against Australia which begins at Bangalore on Wednesday. They are 9/4 to repeat their memorable victory of 2000-01, and are an appetising 3/1 to win the first Test.

Australia, in spite of their record in India, where they have lost five of their last seven Tests, are rated 6/4 favourites to win the first Test and evens to win the series.

bet365 are also offering odds on the Series Result. A 2-1 win for Australia, or a 1-1 drawn series, are thought to be the most likely results, and are priced at 4/1. A repeat of the 2000-01 series, which India won 2-1, is 13/2. Punters must remember that this time there are four Tests to be played, so a 3-1 series win for India should be considered at 28/1. The same result in Australia's favour is 14/1.

Spin is sure to play a key role, and the Top Team Bowler market reflects this. Anil Kumble is India's favourite at 2/1, while Shane Warne is a clear 6/4 favourite to take the most wickets for Australia. Darren Lehmann may also have a role to play with the ball, and is an interesting outside bet at 25/1 in this market. In spite of his 32-wicket haul in 2001, Harbhajan Singh is only second favourite at 9/4 to be the top Indian bowler in the series, and represents a decent value bet this time.

In the odds for the first Test, the Man-of-the-Match market makes interesting reading. Sachin Tendulkar, in spite of his fitness concerns, is 7/1 favourite. Brett Lee, at 22/1, is an interesting bet: although raw pace may not be effective in India, Lee is a proven match-winner and his ability to reverse-swing the ball may be an important factor.

Adam Gilchrist has a disappointing record against India at home, averaging just 24.80, but he always has the potential to make a massive impact on a match, and at 18/1 in the Man-of-the-Match market, he offers excellent value for those punters backing his ability to step into Ricky Ponting's shoes. With the possibility of him moving up the order - and his noted ability against spin - Gilchrist as Man of the Match could be the best bet of the first Test. For punters purely wishing to back Gilchrist in the series batting, he is a tempting 7/1 to top-score for Australia.

In the Top Team Batsman market for the first innings of the first Test, Rahul Dravid, recently named as the International Cricket Council's Player of the Year, is 10/3 to top-score for India. He is also an enticing 10/1 to be Man of the Match. Matthew Hayden had a tremendous series in India last time round, averaging just under 110, and is surely worth considering again as a key player. He is 5/2 favourite to top-score for Australia in the first innings, and an eye-catching 15/2 in the Man-of-the-Match market.

VVS Laxman has a superb record against Australia, and is 4/1 to start the series by leading the Indian run-scoring. Laxman is also 11/1 to be Man of the Match in the first Test, and 9/2 to score the most runs for India in the series.