The current betting odds, as per EurovisionWorld.com, which averages out betting odds from various bookmakers around the world, Australia's ranking in the odds has risen to second - just behind Russia's Sergey Lazarev, as the most likely to win.
See the full betting chart below, as at 2pm AEST on May 14th.
Following close behind Australia is Ukraine, with Jamala and her soulful performance of '1944' which caused controversy when it was first submitted due to the highly political nature of the song lyrics, which focus on Joseph Stalin’s mass deportation of 244,000 Crimean Tatars in 1944 – a tragic event that has been equated to genocide by the Ukrainian parliament.
Clearly, her performance in Semi Final 2 has moved audiences though as like Dami, Jamala has shot right to the top of the betting odds.
Following close behind them in fourth and fifth place are France's Amir and the host nation of Sweden's Frans - a 17-year-old who won his place to represent the country in the national singing contest Melodifestivalen.
Fan favourite Russia remains at the top of the rankings though in spite of several mishaps on popstar Lazarev's journey to Eurovision, including passing out on stage at a performance just two weeks before arriving in Sweden and falling off his elaborate set in dress rehearsals.
So what happens if Australia beats out the pop icon of Russia? More on that below: