America's Cup 2021: Team New Zealand TAB favourites as Team UK pay for problematic week

Team New Zealand are shaping up to be hot favourites this week, while INEOS Team UK have paid for a lackluster performance in the trial races.

Team New Zealand are paying $1.45 in the TAB odds to win Sunday's Christmas Race, with their closest rival Luna Rossa at $4.50.

American Magic is tipped at $5 while a tough week on the water for INEOS Team UK has them at a staggering $15.

Sir Ben Ainslie's British team only took part in Tuesday's trial race after being absent over the last week due to gear failure and having to pull the pin early in their practice match-up with Team New Zealand on Monday.

Team NZ and Luna Rossa during the second day of practice. Photo / Dean Purcell

All teams will go head-to-head for the first time today in the America's Cup World Series.

So far, Team New Zealand are $1.27 over Luna Rossa at $3.40 while American Magic is $1.20 over Team UK at $4.00

The first three days follow a double round-robin format, with four races each day. Each team will face their three opponents on two occasions.

The top-ranked team from the round-robin will then face the fourth-best team in one semifinal, with the second- and third-placed teams squaring off in the other.

The winners of each semifinal will face off in the Christmas Cup decider, while the two losers will race in a playoff for third.

For Team New Zealand, it is their only chance to take on the three prospective challengers in official races before the America's Cup match next March.

Luna Rossa, American Magic and INEOS Team UK will then battle it out in the Prada Cup starting in January, which will determine who will compete against the defender Team NZ in the America's Cup match.

Enjoy smooth sailing to the Cup with Auckland Transport

• Avoid traffic congestion and parking niggles and download the AT Mobile app to plot your bus, train or ferry ride to race venues before you leave home.

• Make sure your AT HOP card is in your pocket. It's the best way to ride to the Cup

• For more ways to enjoy race day, visit at.govt.nz/americascup