Israel has suddenly become one of the hot favourites to win the Eurovision Song Contest after a punter put a five-figure bet on it to win.

Bookies William Hill have slashed their odds from 20/1 to 5/1 favourite for the song Milim sung by Harel Skaat.

However, Britain are nowhere in the running to take the crown at a measly 33/1, despite pop supremo Pete Waterman writing this year’s entry, Sounds Good To Me sung by Josh Dubovie.

William Hill’s full list of odds for Eurovision 2010 are: 5/1 Israel, 11/2 Azerbaijan, 6/1 Denmark, 15/2 Norway, 10/1 Croatia, 12/1 Greece, 12/1 Armenia, 12/1 Sweden, 14/1 Germany, 20/1 Belgium, 25/1 Ukraine, 33/1 Slovakia, 33/1 Iceland, 33/1 United Kingdom, 33/1 Ireland, 33/1 Turkey, 40/1 Moldova, 40/1 Spain, 40/1 Romania, 50/1 Russia, 50/1 Malta, 50/1 Lithuania, 50/1 Cyprus, 50/1 Georgia, 66/1 Bosnia & Herzegovina, 66/1 Estonia, 66/1 Albania, 66/1 Serbia, 80/1 Finland, 80/1 Switzerland, 100/1 Latvia, 100/1 Belarus, 100/1 Portugal, 100/1 France, 100/1 Bulgaria, 100/1 Holland, 150/1 Slovenia, 200/1 FYR Macedonia, 200/1 Poland.