Novelist Sarah Waters is the favourite to win the Man Booker Prize, which is being announced in London on Tuesday.
Waters, who was nominated for the award in 2002, faces competition from five other authors for the honour, which carries a prize of £50,000.
The author of Night Watch was 5/4 favourite with bookmakers Ladbrokes before betting closed.
They also reported a late flurry in bets for The Inheritance of Loss, written by Kiran Desai.
Ladbrokes spokesman Nick Weinberg, said: "Punters, who are aware that the judges have sprung a surprise or two in the past, have sensed a bit of value amongst the also rans in the betting.
Sarah Waters - The Night Watch 5/4
Kiran Desai - The Inheritance of Loss 3/1
Edward St Aubyn - Mother's Milk 5/1
Kate Greenville - The Secret River 11/2
M J Hyland - Carry Me Down 6/1
Hisham Matar - In the Country of Men 8/1
"As a result Desai has built up a head of steam. The gamble has taken shape over the weekend and has become a self fulfilling prophecy."
Edward St Aubyn's, Mother's Milk was given 5/1 odds followed by The Secret River by Kate Greenville at 11/2.
Carry Me Down by M J Hyland was at 6/1 and Hisham Matar's In the Country of Men was given odds of 8/1.
Last year's prize was won by John Banville for The Sea, beating the favourite Julian Barnes.