Ed Sheeran and Elton John only released their joint Christmas song today, but are already being touted for the coveted UK Christmas Number One.

On Thursday, bookmakers Ladbrokes gave Ed and Elton’s song Merry Christmas 6/5 odds on claiming the top spot.

Now, just 24 hours later when the song and suitably festive video dropped, the odds have been slashed to 4/5 on becoming 2021’s Christmas classic.

Other contenders for the crown this year include Adele’s Easy on Me and Swedish supergroup ABBA’s first ever Christmas song.

You also can’t rule out LadBaby who has now scored three consecutive Christmas Number One’s, though he has yet to officially confirm an entry for this year.

Bookies William Hill are backing Elton and Ed with odds at 5/6, followed by LadBaby 10/11, and Adele 10/1, but give no mention of ABBA.