Peter Wright is rated as the 7/1 third favourite as he bids to retain his Ladbrokes Masters title later this month in Milton Keynes.
Wright ended Michael van Gerwen's five-year reign as Masters champion when he took the title at the Marshall Arena 12 months ago.
The colourful Scot will be the third favourite in the betting at 7/1 ahead of this year's event, with Van Gerwen the 9/4 favourite to win his sixth title in the event.
New World Champion Gerwyn Price is 5/2 as he looks to mirror Wright's success 12 months ago following his Alexandra Palace triumph last Sunday.
With the field expanded to 24 players this year, the world's top eight stars will enter at the second round stage on Saturday January 30, after the players ranked from 9-24 on the PDC Order of Merit face off in round one.
World Championship finalist Gary Anderson is 12/1 to win a first Masters title, while 2014 champion James Wade is 25/1 to claim the trophy for a second time.
Grand Slam of Darts champion Jose de Sousa is 1/2 to win his first round tie with World Cup winner Jonny Clayton (8/5), while World Matchplay winner Dimitri Van den Bergh is 2/5 as he faces Chris Dobey 19/10.
Ladbrokes have a full range of outright and match odds available ahead of the tournament.
The 2021 Ladbrokes Masters will be held behind closed doors at the Marshall Arena from January 29-31.
Worldwide coverage will be led by host broadcaster ITV4 in the UK and Ireland, as well as through RTL7 in the Netherlands and DAZN in various global territories, as well as through the PDC's global broadcasters, for PDCTV Rest of the World Subscribers and through matchroom.live.
2021 Ladbrokes Masters
Outright Winner Odds
9/4 Michael van Gerwen
5/2 Gerwyn Price
7/1 Peter Wright
12/1 Gary Anderson
16/1 Dimitri Van den Bergh, Nathan Aspinall
20/1 Dave Chisnall
25/1 Glen Durrant, James Wade, Jose de Sousa, Michael Smith
33/1 Krzysztof Ratajski, Rob Cross
40/1 Ian White, Joe Cullen, Mervyn King
50/1 Daryl Gurney
66/1 Mensur Suljovic, Simon Whitlock
100/1 Stephen Bunting
150/1 Adrian Lewis, Chris Dobey, Jeffrey de Zwaan, Jonny Clayton
Each Way: 1/2 odds, places 1-2.
First Round Match Odds
8/13 Joe Cullen v 13/10 Stephen Bunting
4/9 Michael Smith v 7/4 Adrian Lewis
8/11 Glen Durrant v 11/10 Mervyn King
8/11 Ian White v 11/10 Mensur Suljovic
1/2 Jose de Sousa v 8/5 Jonny Clayton
2/5 Dimitri Van den Bergh v 19/10 Chris Dobey
8/13 Krzysztof Ratajski v 13/10 Simon Whitlock
8/13 Daryl Gurney v 13/10 Jeffrey de Zwaan
Odds courtesy www.ladbrokes.com and correct at time of writing. Subject to fluctuation.