The highlight event all punters and racing fans are awaiting at the Gold Coast Magic Millions Race Day today is Race 7 – the $2 million Magic Millions 2YO Classic – and with jump time scheduled as 4:40pm (AEDST) the Races.com.au crew have a look at the updated Magic Millions Classic odds.

The Gold Coast track conditions have continued to improve throughout the morning, with the track now rated a Heavy 8.

This means that punters are starting to get behind the runners drawn closer to the rail, especially considering Gai’s Choice took out Race 2 after jockey Corey Brown took her right up to the fence.

Karuta Queen remains the red hot favourite to win the 2011 Magic Millions 2YO Classic this afternoon, the unbeaten filly continuing to shorten in the Luxbet markets now at a quote of $2.90.

Her form in undeniable having won all three of her race starts including the ideal lead-up to today’s showdown, the Wyong Magic Millions 2YO Classic back on December 5.

However, the quality of this season’s Magic Millions Classic field is top-class and the event is known for its upset results.

Also, the favourite has moved into barrier seven, still a slightly awkward draw.

Money is starting to roll in for a number of the ‘outside’ chances including #3 Internal Revenue.

Trained by local Gillian Heinrich, Exceed And Excel colt Internal Revenue is coming off a number of eye-catching runs including a second place in the Listed Phelan Ready Stakes at Eagle Farm in early December and a gallant fourth behind stablemate Military Grace in the Listed B.J. McLachlan Stakes at Doomben.

Drawn well in barrier two, Internal Revenue has shortened in from $26 to $18 at Luxbet.

Military Grace is also backing up in the Magic Millions Classic today, a drifter in the market now out to #11 from her openin quote of $8.50 at Luxbet.

Her odds are very surprising looking at her great form having won back-to-back Listed races on way to today’s showdown, the same events her stablemate Military Rose won before taking out the 2YO Classic 12 months ago.

Odds on #2 Five O’Clock have also shortened, now into $18 from $21, the Alan Bailey-trained Dane Shadow gelding drawn on the inside with barrier one and well-weighted at 56kg after carry 59kg to a close third place finish behind Pepper Jet at the Gold Coast on January 1.

Pepper Jet remains steady in the market at $5.50, a top fancy with a good barrier three draw and the only other runner in the Magic Millions 2YO Classic field with a perfect race record aside from the favourite.

For the complete Magic Millions 2YO Classic odds and betting markets check out Luxbet now where more Aussie punters get better value and bigger payouts every day!