Guessing who will run the final stretch with the Olympic torch and lights the cauldron is always one of the highlights of the Games opening extravaganza. With the London Olympics fast approaching, Britons are happily combining two of their favorite pastimes: sports and betting.

With just over a week to go, bookmakers are closing their books on the most popular bet so far: Who will light the flame at the opening ceremony on July 27.

The bookmakers agree the clear favorite, with odds of 1/3, is Britain's most successful Olympian Steve Redgrave. The 50-year-old rower won gold medals at five consecutive Olympics from 1984 to 2000.

Redgrave’s main rivals appear to be Daley Thompson and Roger Bannister. Britain's best all-round athlete, Thomson won the Olympic decathlon title in Moscow in 1980 and Los Angeles in 1984.

Bannister made history in 1954 as the first man to run the four-minute mile, a barrier many had thought physically impossible.

Multi Olympic gold medalists Kelly Holmes, Ben Ainslie, and Chris Hoy are also in the picture.