With only hours to go before the winner is announced, Waterford band O Emperor are bookies' favourites to win this year's Meteor Choice Music Prize.

The band's second album, Vitreous, is 15/8 favourite to win the €10,000 prize money and the prestige. Dublin sixpiece Little Green Cars are second favourite with the bookies for their debut album Absolute Zero.

Hozier and The Original Rude Boys lead the pack to win Irish Song of The Year.

The Meteor Choice Music Prize takes place tonight in Vicar Street, Dublin and Bell X1, Girls Names, Little Green Cars, Mano Le Tough, O Emperor, Lisa O’Neill and Villagers will perform live at the sold-out event.

RTÉ Ten will live stream the performances and ceremony this evening and RTÉ Two will broadcast highlights including performances and interviews with nominees this Sunday night, March 2, at 10.25pm.

Betting on the event closed on Monday and according to Paddy Power, O Emperor commanded almost a quarter of the stakes overall, followed closely by Kodaline, whose album, In a Perfect World, attracted just under 20% of all stakes.

Most popular in terms of stakes for Irish Song of The Year were The Original Rudeboys, Hozier and Kodaline.

The full list of nominees for Irish album of the year and their odds are as follows:

Irish Album of The Year

15/8 O Emperor - Vitreous

3/1 Little Green Cars - Absolute Zero

7/2 Kodaline - In A Perfect World

7/2 Villagers - [Awayland]

6/1 Lisa O'Neill - Same Cloth Or Not

8/1 Bell X1 - Chop Chop

10/1 My Bloody Valentine - MBV

14/1 And So I Watch You From Afar - All Hail Bright Futures

16/1 Girls Names - The New Life

25/1 Mano Le Tough - Changing Days

Irish Song Of The Year

5/4 Hozier - Take Me To Church

7/4 The Original Rudeboys - Never Gonna Walk Away

11/2 Kodaline - Brand New Day

7/1 Two Door Cinema Club - Changing Of The Seasons

9/1 The Strypes - You Can't Judge A Book By The Cover

14/1 Villagers - Nothing Arrived

16/1 James Vincent McMorrow - Cavalier

20/1 Daithi - Chameleon Life

40/1 I Am The Cosmos - Look Me In The Eye

40/1 New Jackson - Sat Around Here Waiting