A week ago, Mitchell was a $21 longshot for the Brownlow.
But a betting plunge since Friday means the in-form midfielder has shortened to $5 (with TAB Sportsbet) on Monday, just behind Geelong's Joel Selwood and odds-on favourite Gary Ablett.
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The Gold Coast skipper remains the favourite for Monday night's count at $1.65 and Sewlood is drifting in the market, out to $4.50 from $3.50.
"It’s been a huge go and, if it continues, [Mitchell] might even take secondfavouritism off Joel Selwood," said TAB’s AdamHamilton.
Mitchell was runner-up in the last two Brownlow counts - he was ineligible through suspension in 2011 - and is certain to feature prominently again.
Some bookmakers are reporting that 90 per cent of the money they have taken on the Brownlow since Friday has been for Mitchell.
What might count against Mitchell is his different role this season.
He has alternated between half-back and midfield and the Brownlow is well-known for belonging to the game's top onballers.
Ablett has been the top midfielder this season, winning his seventh-straight All Australian selection and missing only one game.
Ablett, like Mitchell, is a consistent Brownlow vote winner and Gold Coast's improved form this season further boosts his chances.
He won the 2009 Brownlow at Geelong and has finished equal-sixth and sixth in his two seasons with the Suns.
But he will want to be well ahead when the count comes down to the last five rounds.
Ablett had an unusually-quiet patch, including a season-low 19 disposals in the round 20 win over Melbourne.
He finished off the season in round 23 with an outstanding game against Greater Western Sydney and the likely three votes from that game could prove crucial.
Collingwood pair Dane Swan and Scott Pendlebury, plus Adelaide's Patrick Dangerfield and Sydney's Kieren Jack are also rated as solid Brownlow chances.
When markets opened for the Norm Smith Medal, Mitchell was named favourite for the award, at $5, just ahead of Fremantle's Nathan Fyfe at $6.
