Odds: Hamilton the bookies favourite for a second win at Monaco

The winner of the 2008 race, plus F3 and GP2 events in the Principality, is priced 11/4 to claim his first win of the season on Sunday.

Hamilton is also the 7/4 favourite to bag his third pole position of the season, while Paddy Power is offering odds of 7/2 for Hamilton doing the win/pole double.

The master Pastor?

Following his Barcelona success, Pastor Maldonado is rated at 10/1, the shortest winning odds for a Williams driver in years. But it's also a canny bet. Maldonado has been sensational around Monaco in Formula Renault 3.5 and GP2, and was heading for a breakthrough sixth place in an uncompetitive Williams last year before being taken out in a collision with Lewis Hamilton.

The Williams has great traction out of slow-speed corners, which is essential at Monaco, so this could be a chance for Bruno Senna to shine. The Brazilian is priced at a very inviting 80/1, which makes him a great each-way prospect (1/5 odds for a top 3 place).

Lotus at last?

Back-to-back podium finishes make Kimi Raikkonen F1's form man at the moment, and the Finn is an enticing 6/1 to score his first win of the season. He won the 2005 race from pole and the final sector speeds he demonstrated in Barcelona - a good indicator for Monaco - suggest he could be a real factor.

The same applies for team-mate Romain Grosjean. The Frenchman demonstrated some street racing skills in GP2 around Monaco, winning in 2009 and racing his way to fourth from 26th (and last) on the grid in 2011. He's priced at 10/1 to win.

Can Red Bull fly again?

Both Sebastian Vettel (2011) and Mark Webber (2010) are previous Monaco winners and they should be among the front runners again this weekend. Vettel is second-favourite at 9/2, while Webber is an eye-catching 14s. Qualifying specialist Vettel looks good value at 4/1 for pole, but the 17/2 price for the pole/win double is the one to go for.

The others

After a flying start to the season, Jenson Button has struggled recently, but the 2009 winner will attract some interest at 8/1. The Ferrari times through the final sector in Barcelona were unimpressive, and Fernando Alonso's third-favourite pricing of 5/1 reflect the stellar job the Spaniard has done this season rather than his chance of success.

Some of the best value can be found among the Mercedes and Sauber drivers. Chinese GP winner Nico Rosberg is 22/1, but team-mate Michael Schumacher - a five-time Monaco GP winner - is surely worth an each-way punt at 40/1. Like Williams, the Sauber has good slow-speed traction and Sergio Perez has form at Monaco, winning the 2010 GP2 race. He's priced at 33/1, team-mate Kamui Kobayashi 50/1.