Relegated Cardiff and Fulham have been installed as joint favourites by Sky Bet to make an immediate return to the Premier League.
The Football League sponsor go 3/1 apiece on the relegated pair securing promotion back to the top flight and 10/1 winning the Championship title, while Sheffield United are favourites to win League 1 on the back of an impressive second half to this season.
The Blades are 6/1 to win the title, with newcomers Barnsley and Doncaster each given odds of 12/1, while Luton are 7/1 to mark their return to the Football League by winning the fourth tier.
However, the Hatters should be pushed hard by Shrewsbury and Stevenage, who are 9/1 and 10/1 respectively in the League 2 title odds, while Tranmere can also be backed at 10/1.
Sky Bet's head of football trading Paul Wiggins said: "Relegated Cardiff and Fulham head the early betting as they look to take advantage of the parachute payments by holding on to the key members of their squads.
"Elsewhere, FA Cup semi-finalists Sheffield United head the League 1 betting after a fantastic end to the 2013-14 season. They will be looking to take that form into the new season and have money to spend after the cup run.
"And, having returned to the Football League, we fancy Luton to make an instant step up through Sky Bet League 2 and have them as 7/1 favourites for the title. We reckon the feel good factor is well and truly back at Kenilworth Road and the good times look to be returning."