The band, who lead with odds of 7/1 for their forthcoming record Velociraptor!, are trailed by former Oasis guitarist Noel Gallagher, who will release his solo debut Noel Gallagher's High Flying Birds later this year.
Radiohead's The King Of Limbs is also joint second favourite with Gallagher at 8/1, while Ed Sheeran and Florence + the Machine sit in third place with odds of 10/1.
Early outsiders include Jessie J at 33/1, Professor Green at 50/1 and Hard-Fi at 66/1.
Charlie Simpson currently sits at the bottom of the list at 80/1 with his solo debut Young Pilgrim, which reached number six on the UK album chart last month.
Other unreleased albums included in the list compiled by bookmakers William Hill include Coldplay's Mylo Xyloto at 12/1 and a new Mumford & Sons LP at 16/1.
PJ Harvey walked away with this year's prize for her album Let England Shake. She became the first artist to have won the prestigious award twice.
> PJ Harvey on Mercury Prize win: 'I'm surprised I've won it twice'
Watch the music video for Kasabian's new single 'Days Are Forgotten' below: