The baking competition is set to re-launch on Channel 4 later this year, after it was poached from BBC One.
Former presenters Mel and Sue opted not move with the show to it’s new home, and Channel 4 have been searching for a replacement host ever since.
Now bookies have slashed the odds of Sandi taking the reins from 12/1 to 5/1 following a large number of bets.
She is now joint favourite to present the show, alongside actor and comedian Richard Ayoade.
William Hill spokesman Rupert Adams said: “Sandi is the new joint favourite and it takes a decent number of bets to move the market that much.”
Both Sandi and Richard are regulars on Channel 4. Sandie hosts the daytime quiz show ‘Fifteen To One’, and Richard fronts his own travel show ‘Travel Man’, as well as putting in regular appearances on a host of other shows on the channel.
It’s still to be confirmed who will join Paul Hollywood on the judging panel, after Mary Berry confirmed she would be leaving the show.
The current frontrunner, restaurateur and food critic Prue Leith, has revealed she has had several meetings with Channel 4, and made no secret of the fact that she’d love to be a part of the programme.
We have contacted Sandi Toksvig’s rep for comment.