So, is it a foregone conclusion that Villagers will win? Perhaps (and hopefully) not: 5/2 with Paddy Power at the time of writing, tight but hardly unbackable: 
www.paddypower.com/bet/music/choice-music-prizeStill great value on other runners: Cathy Davey at 8/1 and Two Door Cinema Club at 10/1 - surely worth a punt. (I'd be happy if either of those two won. Or, basically, anyone except Villagers.)
Runners and riders (10 go to post):
Adebesi Shank “This is the Second Album of a Band called Adebisi Shank” (Richter Collective) 
The Cast of Cheers “Chariot” (Self release) 
Cathy Davey “The Nameless” (Hammer Toe Records) 
Fight Like Apes “The Body of Christ & The Legs of Tina Turner” (Model Citizen) 
Halves “It Goes, It Goes (Forever & Ever)” (Hate is The Enemy) 
Imelda May “Mayhem” (Universal) 
James Vincent McMorrow “Early in The Morning” (Universal) 
O Emperor “Hither Thither” (Universal) 
Two Door Cinema Club “Tourist History” (Kitsune) 
Villagers “Becoming a Jackal” (Domino)