Jordan Spieth is hanging on for dear life at the top of the Masters markets as we get ready for day 3.

It seemed the bookmakers, early on during his second round at Augusta National, were ready to give a second green jacket to the Texan as he established a five shot lead.

But the defending champion’s struggles on the back nine saw Rory McIlroy close to a shot behind – and there’s barely anything to split them now with the oddsmakers.

Spieth is a best priced 9/4 across the major firms, while McIlroy can be backed at best odds of 5/2 as we await tonight’s showdown between the pair.

The oddsmakers can’t see past the duo for the title’s destination, even though Spieth’s second effort of 74 sees 14 players within four shots of his lead.

Jason Day, sitting in tied-15th place at +1, is third favourite at 12/1 while Dustin Johnson and Brandt Snedeker, who have both been under the radar but enjoyed two solid days, can be backed at 16/1 and 25/1 respectively.

AUGUSTA, GEORGIA - APRIL 08:  Jason Day of Australia reacts after putting on the 12th green during the second round of the 2016 Masters Tournament at Augusta National Golf Club on April 8, 2016 in Augusta, Georgia.  (Photo by Andrew Redington/Getty Images)

The latter is the player who is causing much head scratching across the bookmakers.

While the odds for much of the top half dozen in the market are fairly static, the prices on Snedeker vary wildly – with the American as short as 16s with some.

Mcilroy and Spieth’s domination of the money mean there are some huge prices further down the list of competitors.

Sergio Garcia, still very much in the frame at even par, is as big as 50/1, while Irishman Shane Lowry touches 80s in places.

Bryson DeChambeau, who was pressing for the lead until a triple bogey 7 at the final hole, is 100/1 to bounce back in style and win the Masters as an amateur.