Which clubs and players are the favourites for the major awards for season 2016?

With the NAB Challenge done and dusted, we take a look at all the markets ahead of the 2016 home and away season.

As expected, reigning premiers Hawthorn are favourite for the flag, at $4.00 with TopSport, with grand finalists West Coast second favourite at $6.00.

After Geelong's highly successful trade period and Patrick Dangerfield's brilliant form during the NAB Challenge, the Cats have catapulted into third favourite for the premiership at $7.00.

Punters also expect Port Adelaide to bounce back from a disappointing 2015, with the Power at $1.45 to make the top eight and at $2.90 to make the top four.

However, not many punters expect the Bulldogs to back up their stunning 2015, with the Dogs 10th favourite to make the finals in 2016.

As expected Essendon have been heavily backed to record the least number of wins, at $1.45, with Carlton second at $4.20, followed by daylight and then Brisbane at $11.00.

When it comes to the individual awards, Geelong recruit Patrick Dangerfield has been heavily backed into equal second with Gary Ablett for the Brownlow Medal, at $7.50, with reigning champion Nat Fyfe favourite at $6.50.

Meanwhile, Sydney's Josh Kennedy and Collingwood's Scott Pendlebury are worth a punt at $21.00.

Sam Mitchell ($14), Luke Parker ($34) and Callan Ward ($41) are also good value.

Josh Kennedy, of the West Coast variety, is favourite for the Coleman Medal, at $4.60, followed by Lance Franklin ($5.50), Jeremy Cameron ($8.00) and Jack Riewoldt ($11.00).

Hawthorn's Jack Gunston might be worth a punt at $13.00 with Jarryd Roughead sidelined with a knee injury for the first half of 2016.