The band’s debut album ‘An Awesome Wave’ has been ranked at 6/1, whereas the nearest competitors are at 10/1.
In with a chance of winning the £20,000 at 10/1 are Richard Hawley's 'Standing At Sky's Edge', Florence And The Machine's 'Ceremonials' and Sweet Billy Pilgrim's 'Crown And Treaty.’
The Maccabees, Emeli Sande, Hot Chip and Django Django have been named at 14/1, with Portico Quartet at 16/1.
Coldplay, Jessie Ware and Bombay Bicycle Club are further back at 20/1, with Ed Sheeran and Pulled Apart By Horses trailing at 25/1.
This is very different from bookies William Hill's early prediction
that Radiohead and Noel Gallagher's High Flying Birds were favourites to win, both of which are not included in Paddy Power's odds.
The nominations will be officially announced on September 12 and the ceremony itself will be at London’s Roundhouse on November 1.