We're coming to the light at the end of our Eurovision Song Contest betting odds tunnel – and what a shockingly tacky light it is. Ugh! We've just seen Cheryl Baker's pants!

All this Eurovision betting odds malarkey does have a point – the winner of Eurovision will take home some kind of Greek trophy – a fistful of kebab meat in a sock, as far as we know – and the comforting knowledge that they are up there with Katrina And The Waves, Abba and that transsexual Israeli. Heady stuff indeed.

Here are the latest Eurovision betting odds for Romania and Russia, with help from PaddyPower.com…

Romania (pop. 22,355,551: a country in southeastern Europe) – Mihai Traistariu, Tornero. Mihai Traistariu has a five-and-a-third octave voice. So what? So does Mariah Carey, and she's rubbish! Still, the Romanians bloody well love Mihai; he was last year nominated for the Most Beloved Romanian prize. We don't know who eventually won the prize – possibly a bear in a hat. Tornero, Mihai's Eurovision effort, is another "boo hoo my girlfriend left me" tune, with the linguistically confused line "Like when was together in that dream that could had been so right, yeah!" Still, second favourite to win. Current Eurovision betting odds – 6/1

Russia (pop. 144,526,378: the largest country in the world) – Dima, Never Let You Go. Dima looks like a generic boyband tit, but his previous musical experiences deserve closer inspection. Why? If a song called Night Hooligan doesn't rock your world, then a song called Bum just has to. Sadly, Dima – Russian Singer Of The Year – won't be singing a song about a bum at Eurovision; he'll be singing Never Let Me Go: "Never, never let you go/ You are the one I’m searching for/ Flesh of my flesh, bone of my bone." Wait a second – it's about incest! Bleaugh! Current Eurovision betting odds – 25/1

We’ll be listing all the other Eurovision entries in the run-up to the contest. If you can’t wait, check out the Novelties section of Paddypower to see all the latest Eurovision betting odds. Don't forget that Paddypower give you a free £10 bet when you open an account with them. Good luck!

[story by Stuart Heritage]