Fernando Alonso has been slashed to 6/1 from 12/1 with Ladbrokes to win next year's Formula One Drivers' Championship, following his decision to sign for Renault.


And Lewis Hamilton has eased to 13/8, from 6/4.
Ladbrokes spokesman, Nick Weinberg, said: "Alonso's move to Renault has obviously increased his chances of regaining the drivers' title.


"But, even with the Spaniard on board, there will have to be a marked improvement in the car's performance if he's to challenge for the prize.


"Alonso's undoubted skill will give him a chance, but in all likelihood Ferrari and McLaren will remain the cars to beat. "


Kimi Raikkonen is 6/4 to retain his title.


Alonso said: "I am delighted to be returning to Renault.


"This is the team where I grew up as a driver in Formula One. Now it is time for us to begin a new chapter together.


"I am very excited about working with this great team once more, and confident that together we can move back to the front of the field.


"Renault had a difficult year in 2007, but I know that the team has real strength in depth.


"I am confident they can produce a fast and competitive car and be back at the top in 2008."

2008 Drivers' Championship: K Raikkonen 6/4, L Hamilton 13/8, F Massa 5/1, F Alonso 6/1, H Kovalainen 14/1, N Heidfeld 40/1, N Rosberg 40/1, J Button 50/1, R Kubica 50/1, D Coulthard 100/1, M Webber 100/1.

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