Australia - 4/11 to win pool, 11/8 to win tournament
It's the dawn of a new era of allrounders, and right up there with the best is Andrew Symonds. Like that other Andrew - Flintoff - Symonds has always had ability, but only lately has he developed the intense focus to deal with his immense power. He announced his arrival with a century against Pakistan in the 2003 World Cup, but when he repeated the feat at Lord's last week, from an equally dicey situation, you couldn't help noticing that he has morphed into a more violent version of Michael Bevan. His offspin's pretty handy too, and he rockets returns in from the deep as if he's got something against the keeper.
While we're on the subject of allrounders, here's another useful addition to the Aussie squad. Shane Watson isn't new new - he first played as a 20-year-old in March 2002, but after being kept out of the World Cup with a stress fracture of the back, he's back to form and fitness, with a remodelled bowling action and a lust for leather-whacking. Andrew Miller
New Zealand - 2/1 to win pool, 9/1 to win tournament
Chris Cairns, no longer a Test player, but still a one-day legend. It was his responsible century that clinched the Champions Trophy for New Zealand - their first victory in a multi-nation tournament - in Kenya in 2000. Since then he's blitzed his way to the top of the Test six-hitters' list, and remains a ferocious competitor.
Michael Papps, 25, didn't feature in the one-day series in England after breaking a finger during his only Test of the tour. But his five ODI appearances so far, all against South Africa last winter, included matchwinning innings of 67 at Wellington and 92 not out at Napier. He's short, but drives well, and acts as a handy foil to the big hitters down the order. Steven Lynch
USA - 500/1 to win pool, 5000/1 to win tournament
Clayton Lambert may be a venerable 42-year-old, but in his days as a West Indian batsman, he played five Tests and 11 one-day internationals, with a century in each format. A left-hand batsman with a forthright, if crabby, style, he was never one to bother with the orthodox - as an exasperated Angus Fraser would readily testify - so if he can last long enough to get his eye in, we could yet see a reprise of his former glory days.
The entire team ... this is a whole new ball game for Team America. They may have taken part in the original cricket international, against Canada in 1844, but it has been a struggle to get the game re-established since. A boardroom dispute has undermined the fledgling professional 20-overs league, and the side has been treading water ever since qualifying for this Champions Trophy at the Six Nations Tournament at Sharjah. Still, there's nothing like exposure on the big stage for getting a country kick-started. Andrew Miller