Photo: Press
Ladbrokes are listing the group at 16/1 odds for their debut album 'If You Wait' which was released on September 9 2013, when the start date for this year's award was a day later.
Watch London Grammar's single 'Strong' below:
Other acts tipped to win the award include Kate Tempest as the favourite with 5/2 odds. Other acts include FKA Twigs, Jungle, Sam Smith and Chvurches although the official list is not yet released
The shortlist for this year's prize will be announced on Wednesday 10 September with the actual ceremony scheduled for Wednesday 29 October 2014. Last year's Mercury Music Prize winner was James Blake.
The full list of odds to win the Mercury Music Prize is as follows:
Kate Tempest – 5/2
FKA Twigs – 4/1
Jungle – 6/1
East India Youth – 10/1
Damon Albarn – 12/1
Wild Beasts – 12/1
Sam Smith – 16/1
London Grammar – 16/1
Chvrches – 16/1
Young Fathers – 20/1
Mica Levi – 20/1
Ed Sheeran – 20/1
Eagulls – 25/1
Temples – 25/1
George Ezra – 25/1
Bombay Bicycle Club – 25/1
Coves – 25/1
Paolo Nutini – 25/1
Kwabs – 25/1
Metronomy – 25/1
Lone – 25/1
Below: The biggest Mercury Music Prize success stories and failures
