Betting markets across the country view the Blue Diamond Stakes as a one-horse race after Peter Moody announced that second favourite One Last Dance would be a non-runner.In response most betting agencies slashed the odds of Darley-owned colt Sepoy to $1.85, making him the first odds-on Diamond favourite in 20 years and only the sixth in the race's history.One Last Dance was as short as $8.50 but has been replaced at marginally longer odds as second favourite by stablemate Hallowell Belle who is

Betting markets across the country view the Blue Diamond Stakes as a one-horse race after Peter Moody announced that second favourite One Last Dance would be a non-runner.

In response most betting agencies slashed the odds of Darley-owned colt Sepoy to $1.85, making him the first odds-on Diamond favourite in 20 years and only the sixth in the race's history.

One Last Dance was as short as $8.50 but has been replaced at marginally longer odds as second favourite by stablemate Hallowell Belle who is the only other Diamond contender quoted under double figures.

Unbeaten in three starts, One Last Dance's wins included both the fillies Blue Diamond Preview and Prelude but Moody wasn't happy to proceed with her.

"There was no issue with her but she's had enough," Moody said.

"I told the owners that she had come to the end of her preparation and the decision was made to spell her."

Hallowell Belle is among six third acceptors Moody has in Blue Diamond contention.

Metonymy (18th in the order of entry), Soul Mama (24th), Covered In Class (25th), Amour Cache (30th) and Eclair Desire (35th) are paid up as third acceptors.

The stable has until noon next Monday to pay a $55,000 late entry for its headline colt Golden Archer who won his third race from four starts in the Listed $150,000 Gold Sovereign Stakes (1200m) in Tasmania last Thursday night.

Sepoy is unbeaten in three starts and has earned Blue Diamond favouritism after being dominant in the both the colts an geldings Blue Diamond Preview and Prelude.

Rancher, who started at $1.40 in 1982, is the shortest-ever Blue Diamond favourite and the only one of the five to start at odds-on and win the feature.

The David Hayes-trained Raise A Rhythm was the last odds-on Blue Diamond favourite at $1.90 in 1991 but she could only finish fourth to stablemate Canonise.

Others were Triscay ($1.80, third, 1990), Desirable ($1.80, second, 1976) and War Talk ($1.90, seventh, 1973).

Sepoy was $1.85 with TAB Sportsbet, Sportingbet Australia, Betstar and Sportsbet.com.au.

Luxbet had him as short as $1.80 while Centrebet quoted him in the black at $2.05.

TAB Sportsbet's Glenn Munsie said Sepoy was as much as $31 before winning the Preview first-up on January 26 and was $3.80 last Friday with one punter placing $50,000 at that price before his Prelude win.

One Last Dance was $8.50 before her withdrawal while Hallowell Belle now replaces her as second favourite at $9.