Last year's Grand Slam tournaments showed two very clear tendencies: On the men's side, Jannik Sinner and Carlos Alcaraz split victories and were unwilling to share the glory with any other player. Meanwhile, the women had a different champion in every major.
It comes as no surprise to see Sinner and Alcaraz leading the men's odds again, but it might be more intriguing to look and see who could become a challenger ready to take the world by surprise in Melbourne.
Among the women, with Iga Swiatek and Aryna Sabalenka lifting the last two trophies of 2025, order seems to have been restored, but that rarely lasts long in the WTA.
So, which players have the best Australian Open odds?
Let's dig into these markets at Kalshi, which operates more like the stock market than a traditional sportsbook.
Australian Open Odds (Men's)
Will someone new challenge Sinner and Alcaraz?
If you think it will be a legend like Novak Djokovic, this might be your best shot. The window is closing fast on the 38-year-old to add another trophy to his Grand Slam record, but this has been his best major and could be his last serious attempt at dethroning the two younger stars.
As for the rest, it's anybody's guess, as they have all disappointed in some way in recent years, probably none more than Alexander Zverev.
Those with less baggage might have a better approach and a challenging spirit in the final rounds, particularly American players who perform well on hard courts, such as Taylor Fritz and Ben Shelton, who could be seen as darkhorses.
Australian Open Odds (Women's)
Aryna Sabalenka finally snapped her tough streak of Grand Slam losses by winning the US Open and getting her revenge against Amanda Anisimova, who had previously eliminated her at Wimbledon in the semifinals.
The World No. 1 had also lost the Australian Open final to Madison Keys and the Roland Garros final to Coco Gauff, raising concerns about Sabalenka's focus and determination in the decisive matchups.
That US Open victory put at the top of the Australian Open odds, with Iga Swiatek as another solid option after a convincing victory at Wimbledon.
Keys and Gauff couldn't maintain their level throughout 2025 and will have to show their worth again, while Anisimova has proven she belongs in any title-contender conversation, along with 2022 Wimbledon champion Elena Rybakina.
For Mirra Andreeva, this could be the tournament where she finally stops being a promise and becomes a GS champion.
What is Kalshi?
Different than a traditional sportsbook and available in all 50 states, Kalshi allows users to make predictions across several unique markets, including sports, entertainment, elections and even weather.
Kalshi operates on a contract-based system where users buy "contracts" (priced between 1–99 cents) based on whether they believe a specific event will happen. The price of each contract fluctuates in real time based on market sentiment, and like the stock market, traders can sell positions early to lock in profits (or minimize losses).
Use the promo code below to claim $10 when signing up as a new user.
