Melbourne Cup day winner Oakleigh Girl and Sydney speedster Sheer Style are equal favourites to win next month's Magic Millions.

In tab.com.au's first market on the $2 million race issued on Tuesday, Oakleigh Girl and Sheer Style are $6.50 chances.

Melbourne colt Nordic Empire and last Saturday's Randwick winner Unencumbered hold down the second line of betting at $7.50.

Oakleigh Girl made an impressive start to her racing career in winning a Group Three 1000m race at Flemington on Melbourne Cup day.

In doing so, she left no doubt she had inherited the speed of her Oakleigh Plate-winning parents Snitzel and Miss Kournikova with an all-the-way victory.

Oakleigh Girl is nominated for the Listed Calaway Gal Stakes at Doomben on Saturday.

Sheer Style, also a daughter of Snitzel, confirmed her credentials for the Gold Coast race in her Magic Millions Clockwise Classic win at Ballarat last month.

Millions betting could have its first major reshuffle as early as Wednesday with the Gai Waterhouse-trained Echo Gal set to run in the TAB Rewards Handicap at Warwick Farm.

Echo Gal won a Randwick barrier trial by more than four lengths on November 21 and she is a $16 Millions chance.

But she is a $1.60 hotpot to make a winning debut over 1000m at Warwick Farm with Tommy Berry in the saddle.