After being crowned Australian Open champion in 2023, it comes as no surprise to see Aryna Sabalenka regarded as world number one Iga Swiatek's biggest challenger ahead of the next edition of the tournament in 2024.
We have looked at the top eight in the betting for the 2024 Australian Open.
What: Australian Open – Women's singles
When: January 2024
Where: Melbourne Park, Melbourne
How to watch: Eurosport
Odds: Iga Swiatek 3/1, Aryna Sabalenka 5/1, Elena Rybakina 6/1, Jessica Pegula 10/1, Coco Gauff 12/1, Ons Jabeur 14/1, Carolina Garcia 14/1, Simona Halep
Outright odds - 3/1
The current world number one in women's tennis, winning both the French Open and US Open last year, Iga Swiatek has yet to get her hands on the Australian Open.
The Pole will have been disappointed by her efforts in the 2023 competition too, bowing out in straight sets to eventual finalist Elena Rybakina in the fourth round.
The 22-year-old will be desperate for a stronger showing next time out, and is currently viewed as the favourite for next year's tournament.
The reigning champion, Aryna Sabalenka will be vying to retain her Australian Open crown once the next edition of the competition rolls around.
The Belarusian was imperious in Melbourne in 2023, dropping just one set in the whole tournament in the final against Elena Rybakina.
A beaten finalist in Melbourne in 2023, Kazakhstan's Elena Rybakina will go again next year at the Australian Open.
23-year-old Rybakina won her first Grand Slam at Wimbledon in 2022, and will be hoping further honours are to follow in the upcoming years.
Currently the highest ranked American player on the women's tour, Jessica Pegula has never gone past the quarter-finals stage of a Grand Slam.
Indeed it was in the quarter-finals that Pegula crashed out at the Australian Open in 2023, defeated in straight sets by two-time winner of the competition Victoria Azarenka.
Despite her shortcomings on the biggest stage, Pegula is still one of the most fancied players ahead of the 2024 tournament.
18-year-old American prodigy Coco Gauff continues to increase her stock in the sport after reaching the US Open final in 2022.
Gauff delivered a respectable showing at the 2023 Australian Open, succumbing in the fourth round to Jelena Ostapenko, but will be hoping for better in next year's showpiece in Melbourne.
World number three Ons Jabeur enjoyed a stunning 2022, reaching the final of both Wimbledon and the US Open as she attempts to secure her maiden Grand Slam title.
The Tunisian fell in the second round of this year's Australian Open, however, and will be eager to make amends next time out in Melbourne.
A seasoned player on the tour, world number five Caroline Garcia reached the fourth round of the 2023 Australian Open before losing in straight sets to Poland's Magda Linette.
Garcia is still striving for her ever Grand Slam win, and has never gone further than the fourth round in Melbourne.
A two-time Grand Slam winner, Simona Halep is still searching for her first Australian Open crown having lost in the 2018 final to Caroline Wozniacki.
Having missed the 2023 tournament through suspension, Halep will be raring to go by the time the 2024 competition gets underway.