Arsenal = no chance. They need another striker or two up front. Van Persie breaks his hymen every other game.
Liverpool - really needed to buy another striker and haven't. Babel is not good enough, nor is Lucas in Midfield. Could push for 2nd.
Chelsea - experienced, definitely a top 3.
Man United - there or thereabouts.
Man City - no way can that team gel in one season, 5th placed tops.
BET365 have the following odds (£100 bet bonus

):
Man Utd 2/1
Chelsea 2/1
Liverpool 3/1
Arsenal 17/2
Man City 10/1
Tottenham 100/1
Aston Villa 200/1
Everton 200/1
West Ham 1000/1
Blackburn 1000/1
Sunderland 1000/1
Fulham 1000/1
Portsmouth 2000/1
Bolton 2000/1
Wigan 2500/1
Stoke 3000/1
Wolverhampton 5000/1
Hull 5000/1
Birmingham 5000/1
Burnley 7500/1