Oxford have emerged as clear favourites to win the Boat Race after more than 70% of bets were placed on the Dark Blues, according to bookmaker William Hill.
Spokesman Joe Crilly said: "Oxford are certainly the best backed crew as of yet, although that was very much the case at this stage of proceedings last year.
"Last year, however, we took nearly £40,000 on the day of the race and Cambridge became best backed by the time the race started. Maybe history will repeat itself this time around."
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Severe weather warnings have been issued as up to 60mm of rain is set to fall within just a few hours in some parts.
Tuesday: A cloudy, cool and dull day with outbreaks of heavy rain becoming lighter and patchier.