The Australian Open is currently place at Melbourne Park and is the 111th time the competition has been staged.
The prestigious tournament is the first of the four annual tennis majors – along with Wimbledon, the French Open and the US Open.
This year’s event sees the return of Novak Djokovic to the Australian hard courts after he was deported and barred from the country last year due to not being vaccinated against Covid.
In the men’s tournament defending champion Rafael Nadal is already out after a shock second round defeat, while last year’s women's champion Ashleigh Barty has since retired from the game.
And there’s already been excitement for Scottish tennis fans after Andy Murray shocked 13th seed Matteo Berrettini in a five set first round thriller.
Here’s who the bookies think will triump in the singles tournaments.
5. Andy Murray
Sir Andy Murray may have had a great first round result in Melbourne, but he's a long shot for the title. You can get odds of 100/1 on the Scot triumphing. Photo: Clive Brunskill
6. Iga Swiatek
If the bookies are to believed it's hard to see anybody but Poland's Iga Swiatek winning the Australian Open. The world number one is red hot favourite with odds of 17/10. Photo: Cameron Spencer
7. Jessica Pegula
Second favourite, with odds of 7/1, is America's Jessica Pegula of the United States. She's world number three at the moment but has never progressed beyond the quarter-final stage at a Grand Slam event. Photo: Cameron Spencer
8. Aryna Sabalenka
Belarussian player Aryna Sabalenka has two doubles Grand Slam trophies, having won both the US and Australian Opens. She's 15/2 to add a first singles Grand Slam title to her CV. Photo: Clive Brunskill