The fourth World Surfing League (WSL) Championship Tour event of the season is here, after only a few days of rest due to weather at the Corona Bali Protected.

Both John John Florence (+500) and Stephanie Gilmore (+300) are favorites to win upon entering the Margaret River Pro.

Men's Margaret River Pro Odds 2019

Seeing Florence's name atop the favorites list once again isn't a surprise, especially with past performances he has put on at this event.

However, Florence is coming off his worst finish of the season after being eliminated in the Round of 32 during the Corona Bali Protected.

He did, though, win the Rip Curl Pro event and currently finds himself at the top of the Men's Championship Tour rankings. He is the only male surfer to finish two of the three events with a Top 3 finish, along with a win.

Kanoa Igarashi won the Corona Bali Protected, which is a surprise but should it really be?

Perhaps the most overlooked men's surfer on tour this season, Igarashi currently finds himself in second place behind Florence in the Championship Tour rankings. He has yet to finish an event this season outside of the Top 10.

Igarashi has odds to win the Margaret River Pro set at +1200 and odds to reach the finals at +550.

Kelly Slater may provide good value as he is coming off a fantastic run in Indonesia. During the Corona Bali Protected, Slater found himself in the semifinals before losing.

His odds to win the Margaret River Pro are currently set at +1400 while his odds to reach the finals are set at +650.

Ironically, Julian Wilson (last year's runner-up) has the same exact odds as Slater does.

Italo Ferreira is never a bad pick to back, especially with the season he has had. Ferreira won the first event of the year before finishing fifth at the Rip Curls Pro.

Ferreira, much like Florence, was eliminated in the Round of 32 during the Corona Bali Protected so he may be a smart stay away until proven he is back on track.

Ferreira's odds to win are set at +900 with odds to reach the finals at +400.

Filipe Toledo may be worth a look as well, seeing back-to-back Top 5 finishes which includes a runner-up position. Toledo's odds to reach the finals of the Margaret River Pro is currently +300.

Women's Margaret River Pro Odds 2019

After struggling to win the first two events of the Women's Championship Tour, Stephanie Gilmore finally saw her first victory of the season during the Corona Bali Protected.

A very impressive run saw Gilmore also claim the top spot on the Women's Championship Tour rankings, having yet to finish outside the Top 5 of any event.

The women's division is very deep this season, as many can dethrone Gilmore and win this event.

It begins with Caroline Marks who enters with odds to win set at +1000, which is a solid value bet to consider.

Marks is currently in second place behind Gilmore and has yet to finish outside the Top 10 this season. She has actually seen two Top 3 finishes this year which does include a victory during the Pro Gold Coast.

Tatiana Weston-Webb has an outside chance of challenging the field, finishing as a runner-up last year. She has odds to win set at +1000 as well, seeing back-to-back ninth-place finishes over her last two events.

Sally Fitzgibbons is another threat, finishing the Corona Bali Protected as the runner-up and given odds to reach the Margaret River Pro finals at +300.

Perhaps the biggest adversary to Gilmore's crown is Carissa Moore, who enters the Margaret River Pro with odds to win set at +450.

Moore has yet to finish an event outside the Top 5 but has failed to reach the finals in two straight events.

Courtney Conlogue is a solid dark horse to consider. Her odds to win is currently set at +550 and she has already won a Championship Tour event this season.

She has seen back-to-back Top 5 finishes which includes her only victory.