It's January, and that can only mean one thing — tennis.

Sure, the cricket's still on, but as soon as the crowd favourites from across the seas begin to arrive, the focus will quickly shift from the red to the yellow ball.

The Australian Open is, of course, the main event.

Local lead-in tournaments, the Brisbane International and the Hopman Cup, have handed out their silverware, with only the Sydney International still to come before Melbourne becomes tennis-central for another fortnight.

This year's field looks as strong as ever and despite a few injury worries in the women's competition it looks as though virtually every big star will be at Melbourne Park on the 16th of January.

Total prize money this year sits at a remarkable $25 million, which, while the Greenback and Euro are down the plunger, is a hefty payday for our overseas guests. The men's and women's tournament winners will each pocket a cool $2.3 million.

BackPageLead has taken a look at the top chances to take out the women's singles title to see if we can steer you in the right punting direction.

Disagree? Leave a note in the comments, or tweet us at @BackPageLead with your thoughts — who do you think will be victorious in the 2012 Australian Open?

Serena Williams

Serena, along with her sister Venus, redefined women's tennis as we know it. Both of their hard-hitting styles forced a change in the game plans of virtually every other tennis player in a way few before were able to do. Serena's aiming for her sixth crown at what is easily her most successful Grand Slam.

Her main concern is a dodgy ankle, an injury she exacerbated in Brisbane last week, forcing her withdrawal from the tournament. She was unable to go back-to-back-to-back last year after missing with a separate foot injury, so there's no doubt she'll be primed to push her ankle to the limit and claim that fourteenth Grand Slam victory.

Sam Stosur and Petra Kvitova have had the best of her of late, but apart from that, Williams, when fully fit, will go into any match full of confidence that she can come away victorious. That alone means she deserves to be among the favourites at Melbourne Park.

BPL Tip: Winner

TABSportsbet: $4.50

Petra Kvitova

After a break-out year in 2011, the Czech will be looking to continue her momentum all the way through January. There's no reason she can't, either — six tournament wins, a 60-13 year record, a victory at Wimbledon, her first Grand Slam championship, and the WTA Tour Championships in Istanbul at the end of October means she comes in as the form player of the women's draw.

The 21-year-old made the quarter-finals last year, and with all her recent experience will be right in with a shot this year.

BPL Tip: Finalist

TABSportsbet: $4.25

Victoria Azarenka

The Belorussian is setting up a nice rivalry with Czech Kvitova. Both Eastern Europeans enjoyed their greatest on-court success last year, eventually facing off in the end-of-year final in Turkey, a match Azarenka ultimately lost. She won't be too dispirited though, having well and truly proven to herself, and the tennis establishment, that she'll be one of the players to watch out for over the next few years.

BPL Tip: Semis

TABSportsbet: $8.00

Kim Clijsters

Last year's singles champion, "Aussie Kim" should probably be among the favourites, but recent form, and injuries, probably preclude that. Her mix of positive tennis, grit, determination and experience on tour all mix up into what we know is a champion tennis player.

Before her re-entry into competitive tennis last week, Clijsters hadn't played in a tournament in more than five months, having taken a break to prepare for 2012. This year hardly got to a great start either; despite making the semi finals in Brisbane, she was forced with withdraw a set up against Daniela Hantuchova citing a hip injury.

BPL Tip: Semis

TABSportsbet $8.00

Caroline Wozniacki

What can be said about the world number one? Well, for starters, despite having held the number one ranking for quite some time, she's still yet to register a victory in a Grand Slam, a striking gap on her tennis resume. I'm sure the Dane would also agree that it's near impossible to consider her ranking streak anything more than a blip in the history books until she does manage to chalk up a major.

In light of that, you can guarantee Wozniacki will be raring to go. Her disappointment was palpable at the end of last year, finishing last in her group and failing to progress past the first round of the season-ending Championships in Istanbul. A very sad and sorry way to end the year.

Having started the year strong in Perth at the recently downgraded Hopman Cup, reaching the semi-finals before bowing out to the Kvitova-led Czechs, Wozniacki will now look forward to Sydney, where virtually all her competition for the Australian Open crown will also be competing. A victory there should prepare her nicely to challenge for that maiden, and much needed, slam.

BPL Tip: Another tournament to forget for the Dane

TABSportsbet: $11.00

Sam Stosur

Winning the US Open last year was vindication of what Stosur always knew — that she could match it with the best of them. She knows that well and truly now, having beaten almost every top-ranked player in the world last year (Serena Williams, arguably the most important to get ahead of in the mind games, among them).

Given her undoubted talent, the real question is perhaps how well Stosur is able to handle the challenge of being a genuine chance from the host country. Bernard Tomic might get top-billing on the men's draw, but no one is seriously holding out for him to take the crown, yet. Contrast that with Stosur, who does have a genuine chance, and the pressure builds. It may be prudent to suggest a conversation with either Lleyton Hewitt or Pat Rafter, the two most recent Australians to confront such a challenge, but as neither was successful at Melbourne Park, it's difficult to know how much can be learnt. Indeed, it's perhaps accurate to posit that no Australian has been able to weather that storm since the tournament has gone up a notch and started generating the crowds, hype and attention it does now.

Having said that, no one can doubt Stosur's talent; she's definitely got the talent to make it, and is probably the best placed outsider, given how much the crowd will be behind her.

BPL Tip: We want her to win but just can't see it happening this year

TABSportsbet: $9.00