Rage Against The Machine have been made odds-on favourites to be crowned Christmas number one.

The US band's single 'Killing In The Name', which is outselling nearest rival X Factor winner Joe McElderry, is now 8/11 favourite with Ladbrokes.

The bookmakers has been forced to re-open its odds market just 24 hours after closing it having predicted that McElderry's 'The Climb' would claim the top spot.

It comes as support for a Facebook campaign supporting Rage Against The Machine continues to gain momentum.

Ladbrokes spokesman, Nick Weinberg, said: “Joe’s loss of favouritism is a landmark moment in Christmas number one betting.

“It was inconceivable just a few days ago, but the gamble on Rage Against The Machine has taken us completely by surprise.

“For so long the battle for festive supremacy has been a procession for the X Factor - not anymore.”

Meanwhile, Rage Against the Machine announced today that they will donate proceeds from sales of 'Killing In The Name' to charity Youth Music.

Ladbrokes' revised Christmas odds are:

• Rage Against The Machine - 8/11
• Joe McElderry - Evs
• Lady Gaga - 25/1
• Susan Boyle - 33/1
• Peter Kay/Children In Need - 33/1

(by Jason Gregory)