Bookmakers have made Her Majesty a late favourite to light the Olympic cauldron at the opening ceremony for the 2012 London Games.

A spokesman for BetFred told The Huffington Post UK said a late surge of betting came on Friday morning, slashing the Queen's odds to 5-1, from 25-1.

"We've had around 400 bets on the Queen, you can never tell what sparks it. It might be a royal insider, or just a right royal gamble."

queen olympic torch

Queen Elizabeth II, Prince Philip, Duke of Edinburgh with Lord Sebastian Coe and Olympic torch bearer Gina Macgregor at Windsor Castle

Rower Sir Steve Redgrave, who won gold at five consecutive Olympics, is still the favourite to light the cauldron, with bookmakers putting his chances at 10-11.

Sir Roger Bannister, who ran the first four-minute-mile, is also a hot favourite.

David Beckham and Tour de France winner Bradley Wiggins are also outside chances, according to the Guardian.

A Facebook group is also calling for controversial WikiLeaks founder Julian Assange to light the torch, mocking up a picture of the Australian anti-secrecy campaigner holding the golden torch.

Assange is currently holed up in Ecuador's London embassy, where he is claiming political asylum to avoid extradition to Sweden on sex assault allegations.

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  • The Olympic Torch Makes Its Final Journey Across London Towards The Opening Ceremony

    LONDON, ENGLAND - JULY 27: A flotilla of boats accompanies the Queen's rowbarge 'Gloriana' carries the Olympic flame along the river Thames from Hampton Court to City Hall on the final day of the London 2012 Olympic Torch Relay on July 27, 2012 in London, England. The Olympic flame is making its way through the capital on the final day of its journey around the UK before arriving in the Olympic Stadium tonight for the Olympic games' Opening Ceremony. (Photo by Oli Scarff/Getty Images)

  • The Olympic Torch Makes Its Final Journey Across London Towards The Opening Ceremony

    LONDON, ENGLAND - JULY 27: Crowds enter the water to watch the Queen's rowbarge 'Gloriana' carry the Olympic flame along the river Thames from Hampton Court to City Hall on the final day of the London 2012 Olympic Torch Relay on July 27, 2012 in London, England. The Olympic flame is making its way through the capital on the final day of its journey around the UK before arriving in the Olympic Stadium tonight for the Olympic games' Opening Ceremony. (Photo by Oli Scarff/Getty Images)

  • The Olympic Torch Makes Its Final Journey Across London Towards The Opening Ceremony

    LONDON, ENGLAND - JULY 27: The Queen's rowbarge 'Gloriana' carries the Olympic flame along the river Thames from Hampton Court to City Hall on the final day of the London 2012 Olympic Torch Relay on July 27, 2012 in London, England. The Olympic flame is making its way through the capital on the final day of its journey around the UK before arriving in the Olympic Stadium tonight for the Olympic games' Opening Ceremony. (Photo by Oli Scarff/Getty Images)

  • The Olympic Torch Makes Its Final Journey Across London Towards The Opening Ceremony

    LONDON, ENGLAND - JULY 27: The Queen's rowbarge 'Gloriana' carries the Olympic flame along the river Thames from Hampton Court to City Hall on the final day of the London 2012 Olympic Torch Relay on July 27, 2012 in London, England. The Olympic flame is making its way through the capital on the final day of its journey around the UK before arriving in the Olympic Stadium tonight for the Olympic games' Opening Ceremony. (Photo by Oli Scarff/Getty Images)

  • The Olympic Torch Makes Its Final Journey Across London Towards The Opening Ceremony

    LONDON, ENGLAND - JULY 27: Crowds enter the water to watch the Queen's rowbarge 'Gloriana' carry the Olympic flame along the river Thames from Hampton Court to City Hall on the final day of the London 2012 Olympic Torch Relay on July 27, 2012 in London, England. The Olympic flame is making its way through the capital on the final day of its journey around the UK before arriving in the Olympic Stadium tonight for the Olympic games' Opening Ceremony. (Photo by Oli Scarff/Getty Images)

  • Day 69 - Olympic Torch Relay

    Handout combo photo issued by LOCOG of Torchbearer 131 Sir Bruce Forsyth showing his moves as he carryies the Olympic Flame on the Torch Relay leg through Kensington and Chelsea (Royal London Borough).

  • Day 69 - Olympic Torch Relay

    Prince William, Catherine, Duchess of Cambridge and Prince Harry at Buckingham Palace to watch the London 2012 Olympic Torch Relay.**POOL PHOTO**

  • Day 69 - Olympic Torch Relay

    Prince William, Catherine, Duchess of Cambridge and Prince Harry at Buckingham Palace to watch the London 2012 Olympic Torch Relay.**POOL PHOTO**

  • Coca Cola London 2012 Olympic Torch Relay concert

    Future Flame Tyler Rix carries the Olympic Olympic Flame and lights the Olympic Cauldron on stage at the Coca Cola London 2012 Olympic Torch Relay concert in Hyde Park, London.

  • Day 69 - Olympic Torch Relay

    The Duke and Duchess of Cambridge and Prince Harry are joined by 40 children from the Team GB Ambition Programme as they wait for Wai-Ming to hand over the London 2012 Olympic Torch to John Hulse during a visit to Buckingham Palace, London, on Day 69 of the London 2012 Olympic Torch Relay.

  • Day 69 - Olympic Torch Relay

    The Olympic Torch is driven along Oxford Street, London, on Day 69 of the London 2012 Olympic Torch Relay.

  • Day 69 - Olympic Torch Relay

    The Duke and Duchess of Cambridge and Prince Harry leave after watching Wai-Ming hand over the London 2012 Olympic Torch to John Hulse during a visit to Buckingham Palace, London, on Day 69 of the London 2012 Olympic Torch Relay.

  • Day 69 - Olympic Torch Relay

    The Olympic Torch is carried through Oxford Circus, London, on Day 69 of the London 2012 Olympic Torch Relay.

  • Day 69 - Olympic Torch Relay

    Spectators cheer on the Torch Relay along Regent Street in London.

  • Day 69 - Olympic Torch Relay

    Prime Minister David Cameron and his wife Samantha welcome Olympic Torch Bearer Kate Nesbit to Downing Street, London, on Day 69 of the London 2012 Olympic Torch Relay.

  • Day 69 - Olympic Torch Relay

    Ex-England rugby union captain Lawrence Dallaglio carries the Olympic Flame on behalf of Samsung - a presenting partner of the London 2012 Olympic Torch Relay, at Chelsea Football Club, Stamford Bridge in London.

  • Coca Cola London 2012 Olympic Torch Relay concert

    Eliza Doolittle performing at the Coca Cola London 2012 Olympic Torch Relay concert, in Hyde Park, central London.

  • The Prince Of Wales And Duchess Of Cornwall Attend Torch Handover - London

    The Duchess of Cornwall meeting Torchbearer Scott Moorhouse at the Olympic Torch handover at MENCAP community centre in Tottenham.

  • Day 69 - The Olympic Torch Continues Its Journey Around The UK

    LONDON, UNITED KINGDOM - JULY 26: In this handout image provided by LOCOG, Torchbearer 098 Joanna Lumley and Jennifer Saunders carry the Olympic Flame on the Torch Relay leg between Lambeth (London Borough) and Kensington and Chelsea (Royal London Borough), during Day 69 of the London 2012 Olympic Torch Relay on July 26, 2012 in London, England. The Olympic Flame is now on Day 69 of a 70-day relay involving 8,000 torchbearers covering 8,000 miles. (Photo by LOCOG via Getty Images)

  • After 68 Days Travelling Around The UK The Olympic Torch Reaches Central London Ahead Of The Opening Ceremony

    LONDON, ENGLAND - JULY 26: TV personalities Joanna Lumley (R) and Jennifer Saunders carry the Olympic Torch down King's Road on July 26, 2012 in London, England. The Olympic Flame is now on day 68 of a 70-day relay, the penultimate leg of the flames journey before being taken to the Olympic Park on Friday for the opening ceremony. (Photo by Dan Kitwood/Getty Images)

  • After 68 Days Travelling Around The UK The Olympic Torch Reaches Central London Ahead Of The Opening Ceremony

    LONDON, ENGLAND - JULY 26: TV personalities Joanna Lumley (R) and Jennifer Saunders carry the Olympic Torch down King's Road on July 26, 2012 in London, England. The Olympic Flame is now on day 68 of a 70-day relay, the penultimate leg of the flames journey before being taken to the Olympic Park on Friday for the opening ceremony. (Photo by Dan Kitwood/Getty Images)