Binocular has been ante-post favourite for the Smurfit Kappa Champion Hurdle ever since he slammed Triumph Hurdle winner Celestial Halo at Aintree in April.

Owned by JP McManus and trained by Nicky Henderson, he has enhanced his reputation further in two runs this season by winning at Haydock and Ascot, where he beat Celestial Halo again.

Also trailing in his wake that day were the current two-mile king Katchit, stablemate Chomba Womba and the highly-touted Crack Away Jack.

It was the ease of that Ascot performance which forced bookmakers to cut his price further still, and without running since he is now as low as even-money.

However, there are plenty willing to take him on as he looked all set to land last season's Supreme Novices' Hurdle before being outstayed up the hill by Captain Cee Bee, also owned by McManus.

Henderson has not tasted glory in the blue riband since See You Then's third successive victory in 1987, and the man who was in the saddle that day, Steve Smith Eccles, believes there are plenty of comparisons that can be made between the pair.

"You've got to be impressed with his performances this year, especially the way he jumps, he's so quick and slick and in that respect he does remind me an awful lot of See You Then," said Smith Eccles.

"Of course, See You Then was only five when he won his first one, and it goes to show how hard it is to win it at that age that Katchit was the first to win it at five since then when he won last year.

"Katchit also won the Triumph the year before, but all those hard races look to have taken their toll this year because he hasn't looked the same horse.

"Binocular won't have it all his own way - if the ground comes up heavy Brave Inca is likely to run a big race and we all know how tough he is.

"The beauty of Nicky Henderson is that he picks his races so well, he doesn't over-do them. He's given him two races, said it's Cheltenham next and he'll be spot on there.

"People say he didn't come up the hill last year but he's got another year on his back now, he'll be a lot stronger and I think that will help him.

"In recent years AP (McCoy) hasn't been that lucky at the Festival but he would love nothing more than to ride a Champion Hurdle winner for his boss (McManus) - it doesn't come much bigger than that."

Channel 4's betting pundit John McCririck believes Binocular is a very short price but argues it is difficult for the bookmakers to offer much bigger.

"He doesn't represent value, but if you were a bookmaker what would you lay?" said Big Mac.

"If he's 5-4 would you go and put 2-1 on your board? Bookmakers will stand it, it is the Champion Hurdle and on the day they will stand against it, but what can beat it?

"When you see Brave Inca coming back to win Grade Ones in Ireland, where is the credible opposition coming from? He has trounced Celestial Halo twice as well.

"I think Katchit is the best value in the race. If he can come back to his best he is a tough warrior who loves Cheltenham.

"Things were wrong for him at Ascot, he was unlucky when the Cheltenham meeting was abandoned and the Boylesports International moved there so he could be better value at 14-1 to retain his title.

"I couldn't back Binocular at 5-4 but if I had to have a bet it would be Katchit each-way.

"One negative is that Katchit is not a great champion hurdler, but Binocular could turn into one."