Paddy Power has slashed the odds on Jedward to win the Eurovision from 14-to-1 to 11-to-2 as bets flood in in the last couple of days before the final.
If the Lucan pair win the Eurovision for Ireland on Saturday night, Paddy Power said it would be the single biggest loss in its history, costing it €2m.
A Jedward win would cost the betting shop more than the damage inflicted by Kauto Star when he went head-to-head against Denman in the 2008 Cheltenham Gold Cup and when Padraig Harrington won the British Open in 2007.
Paddy Power spokeswoman Sharon McHugh said: "Jedward never fail to shock and I think it’s fair to say that if they win they’ll give us the shock of our lives. Bringing the Eurovision home will cost us a fortune!"