The Australian Open will feature several players that all have a chance of taking the Slam down, but Serena Williams is the favorite.

The key women players on tour are about to take a little bit of a break from their matches as Doha is now over.  However there is still plenty of betting action available in the futures market and the 2010 Australian Open is just around the corner.  In that field at this point, Serena Williams is the current favorite.

Often a favorite to win a Grand Slam will be set at +250 (5/2) or shorter but in this case Serena Williams is still priced at +300 (3/1) with both Paddy Power and Ladbrokes.  There is definitely value with that price for the American star that seems to elevate her game for Grand Slam events.

Here are the other favorites to win the 2010 Australian Open:

2.  Kim Clijsters, +400 (4/1) bet365
3.  Justine Henin, +500 (5/1) bet365
4.  Venus Williams, +800 (8/1) Ladbrokes
5.  Maria Sharapova, +900 (9/1) bet365
6.  Elena Dementieva, +1400 (14/1) Ladbrokes
7.  Victoria Azarenka, +1600 (16/1) Paddy Power
8.  Caroline Wozniacki, +1600 (16/1) Paddy Power
9.  Dinara Safina, +2000 (20/1) Paddy Power
10. Svetlana Kuznetsova, +2000 (20/1) Boylesports

Clijsters comes in as a top pick due to her victory at the US Open.  However while she had a history of success in Flushing Meadows before this year's event, she's never won in Melbourne before.  She isn't the best pick to make if you are betting against Serena Williams and she isn't all that active on tour.

A big story heading into the tournament will definitely be the return of Justine Henin to Grand Slam tennis.  At +500 (5/1) Henin will probably be drawing a lot of action but going in as a wild card who knows what kind of draw she is going to be getting.  She could end up with really challenging and/or exhausting early round match-ups that could really hurt her chances of winning the entire event.

Henin only won the Australian Open once back in 2004 so there's no need to get too excited about her without watching her first.

Venus Williams has never won the Australian Open and she will be turning 30 in 2010.  Her play in Doha was certainly very tough but she still had a losing record there, going 2-3.  She's been dropping too many matches to low ranked players to justify calling her and you have to wonder if she can win her quarter let alone the whole event.

Down the list, Maria Sharapova and Svetlana Kuznetsova really stand out. 

Sharapova stands out because of her recent title against a difficult field in Tokyo about a month ago and because she won the Aussie in 2008.  At +900 (9/1) you have to love picking Sharapova at this point. 

Kuznetsova is also a great pick because she is ranked 3rd in the world and should have a favorable draw deep into the tournament.  She has been playing exceptional tennis over the last year and while  she's never been all that successful at the Australian Open, at +2000 (20/1) she has been priced right to gamble on for a first time win.

Our recommendation is to either pick Serena and then run with her win or lose or two-bet against her with Sharapova and Kuznetsova.

Go to bet365 to bet on WTA tennis and Grand Slam futures.