Laura Mvula has been tipped by bookmakers to take home the Mercury Music Prize for best UK or Irish album of the year at this evening's ceremony hosted by Lauren Laverne at the Roundhouse in North London.

Birmingham native Mvula is currently listed at evens to win by Paddy Power for her debut release Sing To The Moon. Arctic Monkeys, who previously won the prize in 2006, are currently priced at 7/2 to win their second award for their outstanding recent release AM, while Disclosure's Settle and Foals' Holy Fire are also tipped to be in with a shout at 6/1 and 7/1 respectively.

Irish eyes will be fixed upon Dublin band Villagers who have picked up their second successive Mercury Prize nomination for their album {Awayland} but their odds of 50/1 suggest that their chances should be regarded as a long shot. Still, our digits are very much crossed for Conor O'Brien & co.

Twelve acts in total are nominated for the prize with Laura Marling, David Bowie, Jon Hopkins, Savages, James Blake, Jake Bugg and Rudimental making up the rest of the numbers.

The winner will receive a cheque from £20,000 (€23,000). Meanwhile, acts on this year's shortlist have received a considerable spike in their record sales since appearing on the shortlist. Arctic Monkeys have sold over 321,000 copies of AM since its placement on the list, while Jon Hopkins has almost double the sales of his record Immunity since it was shortlisted.

You can tune in on your TV this evening on More 4 at 9.30pm with the ceremony proper moving to Channel 4 at 10pm. Of course, w'lle will bring you details of the winner when it is announced.