The Golden Globes won’t be handed out until January 12th, but with the nominees freshly announced, a set of odds have already been priced up by Paddy Power, meaning you can start speculating with a few to accumulating post haste. But what are you going to place your hard-earned cash on?

12 Years a SlaveChiwetel Ejiofor as Soloman Northrup in 12 Years a Slave

Kicking off with the big one, Best Drama, and it looks as though 12 Years a Slave will pick up the Grammy as a precursor to an awesome Oscars performance. The Steve McQueen directed, Chiwetel Ejiofor-starring slavery epic has stunned the critics, and odds of 4/11 make it the favourite.

Of course, 4/11 doesn’t represent much of a return, so fans of the underdog might want to put money on one of the many brilliant outsiders. You can get Gravity for this award at 3/1 – not a bad bet considering the film’s incredible visuals – or Philomena and Captain Phillips at 8/1. Our money would be with the latter.

Onto Best Comedy or Musical, and American Hustle has it sewn up, or at least that’s what the odds suggest. The New Year’s Day release has odds of 5/6. But it’s a close category, with Inside Llewyn Davis and Nebraska co-second favourites at 10/3.

American Hustle CastAmerican Hustle is emerging as one of the year's award favourites

Best actress/actor in a drama is set to be a fiercely fought battle between the likes of Ejiofor, Robert Redford, Cate Blanchett, Sandra Bullock and Emma Thompson. For the male category, Ejiofor is favourite, just about; Redford isn’t giving him much room to breath with odds of 11/8 for his solo role in All is Lost. Blanchett in Blue Jasmine from Woody Allen is favourite to the tune of 2/7, while Bullock (7/2 in Gravity) and Thompson (same odds, Saving Mr. Banks) will offer up staunch competition.

Here are Paddy Power's odds for next year's Golden Globes:

Best Drama:

4/11 Twelve Years A Slave
3/1 Gravity
8/1 Philomena
8/1 Captain Phillips
14/1 Rush

Best Comedy Or Musical:

5/6 American Hustle
10/3 Inside Llewyn Davis
10/3 Nebraska
6/1 The Wolf Of Wall Street
7/1 Her

Best Actress - Drama:

2/7 Cate Blanchett (Blue Jasmine)
7/2 Sandra Bullock (Gravity)
7/1 Emma Thompson (Saving Mr Banks)
8/1 Judi Dench (Philomena)
20/1 Kate Winslet (Labor Day)

Best Actor - Drama:

5/4 Chiwetel Ejiofor (Twelve Years A Slave)
11/8 Robert Redford (All Is Lost)
11/2 Idris Elba (Mandela: Long Walk To Freedom)
11/2 Matthew McConaughey (The Dallas Buyers' Club)
8/1 Tom Hanks (Captain Phillips)

Best Actor - Musical Or Comedy:

4/6 Bruce Dern (Nebraska)
11/4 Leonardo Di Caprio (The Wolf Of Wall Street)
6/1 Joaquin Phoenix (Her)
6/1 Oscar Isaac (Inside Llewyn Davis)
7/1 Christian Bale (American Hustle)

Best Actress - Musical Or Comedy:

13/8 Greta Gerwig (Frances Ha)
13/8 Julie Delpy (Before Midnight)
4/1 Meryl Streep (August: Osage County)
4/1 Julia Louis-Dreyfus (Enough Said)
8/1 Amy Adams (Her)

Best Supporting Actor:

5/6 Michael Fassbender (Twelve Years A Slave)
1/1 Jared Leto (The Dallas Buyers' Club)
7/1 Barkhad Abdi (Captain Phillips)
16/1 Bradley Cooper (American Hustle)
20/1 Daniel Bruhl (Rush)

Best Supporting Actress:

2/5 Lupita Nyong'o (Twelve Years A Slave)
7/2 Jennifer Lawrence (American Hustle)
6/1 Julia Roberts (August: Osage County)
6/1 June Squibb (Nebraska)
16/1 Sally Hawkins (Blue Jasmine)