The odds and betting markets have been up with corporate bookmaker Luxbet (owned by tabcorp) and already there is plenty of action on the 2010 Emirates Stakes. Often with early markets the bookmakers can make some mistakes and the punters pounce on the nice odds on offer.

The biggest market mover since Luxbet posted up their early odds has been Palacio De Cristal. The Grahame Begg trained mare is racing well and opened at the nice odds of $14, clearly the professional punters have seen this as being well over what her real odds should be and has been backed into $9.50 already. We expect more money to come for Palacio De Cristal, who will be well suited at Flemington when the track is good or better as she demonstrated two runs ago when she came along the worse part of the track to win. Forget her last run, she doesn’t handle the wet at all.

Wall Street is favourite at $6.50. This Group 1 winning kiwi horse is fit and well weighted against this field. Currently steady at the $6.5 which is a good price for this runner and could possibly firm further tomorrow.

Trusting opened at $8 but has since moved out to odds of $11, which we think is well and truly under the odds. Even though the horse doesn’t like rain affected tracks he has had his chances and we don’t think he is up to winning this race.

Black Piranha opened betting at $13 and has eased out to $15 as it has met with no support at all. Captain Sonador has also eased in betting from $9 to $12 as Luxbet is taking a set against the 2010 Epsom Handicap winner.

Our suggestion is to back Wall Street, and with Luxbet still offering a $400 free bet to all new accounts at the odds of $6.5 that shows a nice $2200 profit on a free bet!