Can England defy the odds?

England may have cruised to a 2-0 victory over Bangladesh in the summer's first Test series, but the manner of their second Test victory has left the bookmakers even more convinced that they don't stand a chance of winning the big one, the Ashes.

The fact that Bangladesh, whose three previous innings had totalled 371, managed to knock more than 300 off England's first choice seam attack has prompted bet365 to cut Australia even further for success in the five-match series, starting at Lord's on July 21. The Aussies are now 4/11 (1.36), while England have drifted from 100/30 (4.30) to 7/2 (4.50). The draw, previously 5/1 (6.00) is 11/2 (6.50).

Every Aussie under the sun - and Darren Lehmann is just the latest - has written off England's hopes of regaining the Ashes for the first time in 18 years this summer and given that it took just 11 days for the Ashes to be won last time out in 2003, it's not surprising they are such strong favourites. The last time England held the Ashes - in 1987 - Margaret Thatcher was the British prime minister and the Soviet Union still existed. But things have changed since the brutal slaughter of two years ago, and England will go into the series on the back of five straight series triumphs.

Perhaps more than any other series, the Ashes attracts more punters on the correct-score markets and Bet365 have made a 3-1 victory to Australia the early favourite at 11/2. The past two series - and three of the past five - have ended up 4-1 to the Aussies, and it's no surprise to see that as a 11/1 (13.00) chance. A 2-1 victory is second favourite at 13/2 (7.50), while a 4-0 triumph is now 7/1 (9.00) and a 5-0 whitewash is 14/1 (15.00).

England's transformation in the past two years has prompted many to predict a closer series, but those considering backing them to take the series would do well to remember 2001 when they went into the Ashes having won four of their previous five series. Even the great teams find it difficult to motivate themselves when the series is already over, and the two victories England have had over Australia in the past two series have come when the outcome has already been decided.

Shane Warne's century for Hampshire earlier last month won't have escaped England's attention either but it's his bowling which will be giving Michael Vaughan and co a few sleepless nights. Since Warne began his Ashes career in 1993, Australia have won 21 Tests and lost just seven, and Warne wasn't even playing in two of the defeats. Warne and Glenn McGrath will again spearhead Australia's attack and it's worth remembering that when those two were out through injury in the last Test of the 2003 series Down Under, Austalia were handily beaten.

Anyone looking for positive omens for England could look at parallels with previous years when Liverpool won the European Cup. In 1977, 1978 and 1981, their first three triumphs, England hammered Australia by a combined 16-2. And if you're looking for an England win, then a 2-1 victory is the favourite at 12/1 (13.00), 3-1 is 14/1 (15.00) and 3-2 is 18/1 (19.00). The dream of a 5-0 whitewash is a surprisingly low 80/1 (81.00), while a 2-2 draw is fairly short at 13/2 (7.50).

The first Test begins at Lord's on July 21.