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There has seen good support for the favourite Material Man to win the Perth Cup at Ascot on New Year's Day.

Material Man is the new $4.20 outright favourite, having opened as equal top pick with Trap For Fools ($4.40 out to $4.60).

Pounamu, who edged out Material Man last start, is next in line at $5.00.

Royal Star has come in a point from $8.00 to $7.00 since betting opened.

“Punters are very keen on Material Man. He gets a 2.5kg weight swing on Pounamu from their recent meeting and the extra distance here should suit,” said Sportsbets Christian Jantzen.

Perth Cup

$4.20 Material Man

$4.60 Trap For Fools

$5.00 Pounamu

$7.00 Royal Star

$12 Zarantz

$12 Dark Alert

$18 Angola

$18 Star Value

$21 Falcon Crest

$26 Shinta Mani

$41 Bollywood Blitz

$41 Cosmic Storm

$61 Not Again Ken

$61 Toppa Dawozza

$81 Dark Musket

$201 Juicing Carrots

$201 Sunset Superman