Australian Open 2024 men's singles winner odds: Novak Djokovic and Carlos Alcaraz firm favorites for Melbourne title

The Australian Open is set to kick off in a few days in Melbourne, with Novak Djokovic bidding to defend his title. Carlos Alcaraz is also one of the top picks to go all the way at the Major tournament, which begins on January 14.

According to Tennis Channel, 10-time Melbourne winner Djokovic has favorable odds at +110, meaning a $100 wager on him will fetch $110 if he wins the tournament (as per BetMGM).

Novak Djokovic is expected to face World No. 2 Carlos Alcaraz in the championship match. These two were the most dependable performers at the biggest stages of the sport last year.

Alcaraz's odds of reigning supreme at the tournament are at +275. The 20-year-old had another banner year in 2023, winning his second Major title at Wimbledon and reaching the semifinals at the US Open and Roland Garros.

The in-form Jannik Sinner is third in the list of Australian Open prospects, with odds of +550 to record his maiden Grand Slam triumph. The Italian was in sublime form towards the end of last season, beating Djokovic on two occasions.

Former World No. 1 Daniil Medvedev comes in fourth with odds of +700. The Russian was one set away from taking home the Norman Brookes Challenge Cup in 2022, but was denied by Rafael Nadal in a five-set final.

Novak Djokovic the only player in Melbourne with more than three Major titles

Novak Djokovic (R) has faced Rafael Nadal (L) twice at the Australian Open.

Novak Djokovic will not have to worry about facing familiar foe Rafael Nadal at this year's Australian Open. The Spaniard had been listed as a dark horse favorite to pick up the title at +800 odds, but he withdrew from the Happy Slam on Sunday (January 7) due to a recurring hip injury.

"During my last match in Brisbane I had a small problem on a muscle that as you know made me worried. Once I got to Melbourne I have had the chance to make an MRI and I have micro tear on a muscle..." Nadal said in his statement.

“Right now I am not ready to compete at the maximum level of exigence in 5 sets matches. Therefore I am flying back to Spain to see my doctor, get some treatment and rest."

The 22-time Slam champion's absence means Djokovic is the only player in the draw with more than three Slams to his name. Andy Murray (three), Stan Wawrinka (three) and Carlos Alcaraz (two) are the other players with multiple Slam wins.

The likes of Stefanos Tsitsipas, Alexander Zverev, Holger Rune and Taylor Fritz round out the list of favorites for the Major tournament, with odds of +2000, +2200, +2500 and +2500, respectively.