Chelsea manager Carlo Ancelotti believes his Blues side are now the favourites to win the Premier League after Saturday’s 2-1 victory over Manchester United (4/5 to qualify for the Champions League semi-finals).

The Blues are now the outright favourites with Betfred to win the title at 8/13, overtaking United who are now 5/2 with Arsenal at 9/2.

Chelsea have a two point lead over Sir Alex Ferguson’s men going into the last five league matches of the season, the Gunners a further point back on United in third.

Ancelotti’s men took control of the title race with an assured performance at Old Trafford, Joe Cole and Didier Drogba (10/11 to be top goalscorer) grabbing the goals, albeit the latter coming in controversial circumstances.

While Chelsea still have to go to Liverpool and Tottenham before the season is out they will fancy their chances of maintaining their two point gap after a recent turn around in form.

The Blues will take a break from league action next week to face Aston Villa in the FA Cup semi-finals at Wembley as they look to complete a league and cup double.

Ancelotti now believes his side are in a strong position going into the last five matches and is backing his Chelsea side to remain top for the rest of the season.

“We are favourites but nothing has been decided. We have to maintain focus and composure,” said the Italian.

“There are more possibilities for us, more possibilities than Manchester United. But we are happy to win here. It is very important for our confidence.”