Rival skippers Mark Richards and Mike Slade on Monday expected little sleep and a titanic tactical battle for line honours in the Sydney to Hobart race with strategy rather than speed looming as a major factor.

After widespread expectations earlier this week that the race record would fall, the major line honours contenders conceded a new mark was unlikely this year.

According to the Bureau of Meteorology's forecast, the fleet of 82 can expect northerly breezes on the first and third days, but could be slowed on the second day when the wind is expected to lighten and move around to the south.

Following the latest forecast, Sportsbook on Monday reported the majority of punters were putting their money on Wild Oats XI with little or no support for the two other fancied maxis, Skandia and Britain's City Index Leopard.

"With the forecast today you've got to really make hay while the sun shines on that first night and basically just try to work out where the best place is going to be when the breeze shuts down," Wild Oats XI skipper Richards told AAP.

Slade, who is also the owner of City Index Leopard, believed the forecast conditions would only favour his boat for around 20 per cent of the 628-nautical mile race.

"It's going to be a very tricky race out there and I think everybody is really going to have to work very hard tactically and keep their wits about them and anything could happen, it's looking trickier every day," Richards said.

"It's going to be a very tough race on the brains and there won't be much sleep for sure."

Slade concurred and expressed confidence in his brains trust of tactician Ray Davies and navigator Jules Salter.

"I still think Wild Oats and Skandia probably in these conditions are looking favourites, we will have to do the best we can with the circumstances," Slade said.

"It's going to be a very exciting race. You've got three fantastic big boats and the good commodore's Volvo 70 (Ichi Ban) is going to be there too.

"It will keep us all on edge, we won't get a lot of sleep."

Slade said under the right conditions the three maxis and the 70-footer Ichi Ban could easily break the race record but predicted "it ain't gonna happen".

He tipped new American boat Rosebud as a strong contender for overall honours.

Rosebud was second in Sportsbook's market for overall honours behind Wild Oats XI, though a number of medium-sized boats attracted money today, including Chutzpah, Yendys, Limit and Ragamuffin.

Skippers of the smaller boats weren't overly enthusiastic about the forecast.

"With this news, it will be a long race for us and all we can do is to look for the current and hope it will help while the wind is not available," said John Walker, the skipper of the 33-foot Impeccable.

The fleet will start on two separate lines on Boxing Day, when the Bureau of Meteorology forecast a north-easterly breeze of 10 knots or slightly more for the commencement of the race, with the wind possibly strengthening up to 25 knots as the boats make their way down the NSW south coast later in the afternoon.

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