Shelly-Ann Fraser-Pryce is backed to regain the Olympic 100m crown she lost in Rio five years ago.
Pryce missed out on the chance to become the first woman to win three consecutive 100m gold medals as she finished third.
The bookmakers believe the Jamaican ace will not come up short in 2021 however.
Fraser-Pryce boasts the fastest time in the world this year, having run 10.63 seconds, and she is 8/11 to be the fastest woman at the Olympics.
Of course, defending champion Elaine Thompson-Herah is considered her biggest rival by bet365.
Thompson-Herah upstaged her fellow Jamaican in Rio five years ago and is 12/5 to repeat that feat in Tokyo.
The absence of banned American sprinter Sha’Carri Richardson may have boosted Dina-Asher Smith’s chances of winning gold.
Richardson has the third fastest time in the world this year and won at the US trials, but she will not be in Japan after testing positive for marijuana.
That has opened the door for Asher-Smith, according to the bookies.
Although her fastest time this year is only the ninth best in the world, Asher-Smith is 4/1 to become the first British woman to win 100m Olympic gold.
That puts her ahead of three women who have run faster than her this year – Shericka Jackson (12/1), Marie-Josee Ta Lou (14/1) and Blessing Okagbare (18/1).
Latest Olympic Games Odds
Odds correct at 15:28 BST on 29/7/2021
Women’s 100m
8/11 Shelly-Ann Fraser-Pryce
12/5 Elaine Thompson-Herah
4/1 Dina Asher-Smith
12/1 Shericka Jackson
14/1 Marie-Josee Ta Lou
18/1 Blessing Okagbare
50/1 Javianne Oliver, Gabrielle Thomas
66/1 Teahna Daniels, Murielle Ahoure