Home Run Derby 2015: Betting Odds and Predictions for Monday Night's Event; Todd Frazier Listed as Favorite

The 2015 Home Run Derby has a new format and some interesting new faces. You can check out the entire rundown for the event here, but in this piece we are going to provide the betting odds and our prediction for this year's winner.

The matchups for the first round of the 2015 Home Run Derby are as listed below:

(1) Albert Pujols vs. (8) Kris Bryant

(4) Joc Pederson vs. (5) Manny Machado

(3) Josh Donaldson vs. (6) Anthony Rizzo

(2) Todd Frazier vs. (7) Prince Fielder

The winner of Pujols vs. Bryant will face the winner of Pederson vs. Machado in the second round and the winner of Donaldson vs. Rizzo will face the winner of Frazier vs. Fielder. The semifinal winners will then compete for the Home Run Derby title, and here are the odds for each participant to win the event, according to Bovada Sportsbook:

Todd Frazier: +450 (4.5 to 1)

Albert Pujols: +500 (5 to 1)

Joc Pederson: +500 (5 to 1)

Kris Bryant: +500 (5 to 1)

Prince Fielder: +500 (5 to 1)

Anthony Rizzo: +700 (7 to 1)

Josh Donaldson: +700 (7 to 1)

Manny Machado: +900 (9 to 1)

The first-time participants include Pederson, Bryant, Rizzo and Machado. Frazier and Donaldson participated in last year's event, while Fielder has won the Derby twice (2009 and 2012). Pujols has also been selected on three previous occasions. So who is the best bet this year?

Frazier made the finals last year but fell to two-time champion Yoenis Cespedes. The only difference this time around is that he'll be in front of his home crowd in Cincinnati tonight, which is expected to be a big advantage. However, he faces Fielder, a two-time champion, in the first round and that will be no easy matchup. Betting the favorite in this scenario doesn't seem as if it's the safest option.

HNGN's bet: Josh Donaldson

The Toronto Blue Jays' slugger is a great bet at 7 to 1 and has previous experience in the event. Additionally, he already has 21 home runs heading into the All-Star break compared to his 29 for all of 2014 and 24 in 2013. He'll face Rizzo in the first round and the Chicago Cubs' first baseman has 16 home runs on the year as he makes his debut in this year's Derby.

While Donaldson is our pick because of his generous odds and great likelihood of getting beyond the first round, our next pick would be Pujols at 5 to 1. The Los Angeles Angels' slugger is experiencing a fully healthy season and earned his first All-Star honors since 2010. His 26 home runs lead the American League (tied with fellow teammate Mike Trout) and his road to the finals is arguably the easiest because the other three competitors on his side of the bracket are all newcomers and 23 years old.

Here's a complete rundown of picks from every ESPN baseball analyst.

Here's a quick guide for betting on the first round:

Pujols (-125) vs. Bryant (-105)

Donaldson (-125) vs. Rizzo (-105)

Pederson (-175) vs. Machado (+145)

Frazier (-125) vs. Fielder (-105)

And odds for each participant to reach the finals:

Pujols (+200)

Bryant (+240)

Pederson (+250)

Machado (+400)

Fielder (+210)