With the Miss Universe crowning ceremony all set for the grand finale today, the whole world waits with bated breath for the winner. According to betting agency Centrebet's odds, Miss Australia is now the $5 favourite.

Miss China Luo Zilin is second favourite at $8 and Miss USA Alyssa Campanella is third, paying $9.00.

Aussie stunner, Scherri Lee Biggs was all over the news for wearing a see through gown. She has brushed aside calls by organisers to ban her wearing a satin gown because it's too "offensive".

However, this is not the first controversy for Biigs. She had apparently told the Sunday Herald Sun last month that she thought former Miss Universe Jennifer Hawkins had had too much plastic surgery. Despite all odds , she is the front runner for the crown this year.

Check out the sizzling pictures of the top three beauties.