Posh were 16-1 with Sky Bet when that firm published their first title odds in the middle of May. Those idds have now been halved.
Sheffield Wednesday have assume favouritism from Ipswich Town after some impressive work in the summer transfer market. The Owls are 4-1 with the Tractor Boys now 9-2.
After Posh come MK Dons (10-1) and Derby County (11-1) with Fleetwood Town and Morecambe the rank outsiders at 150-1.
Posh are 9-4 to win promotion, 7/2 to finish in an automatic promotion place, odds on at 5/6 to finish in the top 6.
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Posh are also 5-1 joint second favourites with Ipswich Town to score the most League One goals. Wednesday are 4-1 favourites.
Full Sky Bet League One title odds: 4-1 Sheffield Wednesday, 9-2 Ipswich, 8-1 POSH, 10-1 MK Dons, 11-1 Derby, 12-1 Barnsley, Bolton, Portsmouth, 14-1 Oxford, Wycombe, 22-1 Plymouth, 25-1 Charlton, 50-1 Lincoln, Shrewsbury, 66-1 Accrington, Burton, Bristol Rovers, Forest Green, 80-1 Cambridge, Cheltenham, Port Vale, 100-1 Exeter, 150-1 Fleetwood, Morecambe.