Simon Cowell odds on for Knighthood

The odds on Simon Cowell landing a knighthood have been slashed by bookies.

William Hill have now cut theirs from 8-1 to 1-3.

The move comes as showbusiness insiders predict he will become a Sir in the New Year honours list.

It is believed that both Tory and Labour MPs are backing Cowell because of his charity work for Haiti earthquake victims, and his contribution to the entertainment industry.

Cowell has raised over £2million for Haiti victims from the proceeds of his Band Aid-style charity single, a cover of REM's Everybody Hurts featuring Mariah Carey and Kylie Minogue.

Cowell also supports Children Hospices, Help for Heroes, and Great Ormand Street Hospital with sales from X Factor charity singles.