Australian Open 2011 | 1st Grand Slam of the Year

Australian Open 2011 | 1st Grand Slam of the Year

Some seeds are already known for the upcoming Grand Slam event.

Rafael Nadal and Roger Federer will be the top two seeds in the men's draw, with Nadal the top seed. In the women's draw the number 1 seed will be Caroline Wozniacki, the 20 year old Dane who is yet to win a Slam. The number 2 seed will be Vera Zvonareva, the veteran who played the best tennis of her career in 2010, and Kim Clijsters of Belgium will be the 3 seed

Roger Federer, fresh off of his victory in the 2010 Australian Open final over Andy Murray, leads the futures market for the Australian Open 2011 Live. Here are the odds for next year's Aussie, which have just recently opened:

When you are working with odds one year in advance then you want to be sure to do a couple things.

First, learn about your sportsbook's policy regarding what will happen to your bet if your pick doesn't play in the targeted event. There is no way to know what will happen in the next year and it's possible that your pick might be injured at this time next year or come down with the flu. You want to know if your bet is refundable for a no-show or if that possibility is simply part of the risk and then you want to factor that into your betting.

Secondly, you only want to work with long odds at this point and with really small bets. There's a lot more risk involved with long term betting than there is with short term betting and so you need a good price in order to justify that risk. Keep in mind that a year ago, people would have thought it inconceivable that Rafael Nadal would not have made the 2010 Australian Open semifinals, but a lot has happened in the last 12 months that lead to that.

The best bet to make in the above list is to sprinkle Cilic. He's young, developing, and fresh off of a semifinals appearance from the Australian Open just completed. With another year of improvement he could very well be a finalist at this time next year and +1600 to win looks great.

Secondly, you only want to work with long odds at this point and with really small bets. There's a lot more risk involved with long term betting than there is with short term betting and so you need a good price in order to justify that risk. Keep in mind that a year ago, people would have thought it inconceivable that Rafael Nadal would not have made the 2010 Australian Open semifinals, but a lot has happened in the last 12 months that lead to that.

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