Centrebet media director Neil Evans said the agency had recorded three times as many bets on the Suns to win the flag than any other AFL team.
"They have been well fancied by small punters and we have had close to $1000 on them," Evans said. "Two punters have backed them to win $20,000 at $100 and another punter has had $100 each-way at $101.
"The best price offered was $126 and they are into $81 currently."
Several betting agencies have been forced to slash the Suns' premiership odds, while all four agencies contacted yesterday revealed a Suns premiership was their worst result.
TAB Sportsbet media manager Gary Davies said the money for the Suns came as a surprise.
"The amazing part is there has been more money invested on the Suns to win the flag then there has been on the Western Bulldogs ($9 chances) or Fremantle ($13) or St Kilda, who are second favourites," he said. "It's quite bizarre and it is beyond any realms of possibility that they could win the flag.
"Just talking to people around the traps here in Melbourne, the indication is if they win five or six games they will have a fantastic season."
Sportsbet.com.au took a bet of $1000 at $151 for the Suns to win the flag, while also reporting strong support for Gary Ablett to win his second Brownlow Medal and David Swallow to win the NAB Rising Star.
"Ablett ($14) has been the best backed player so far to win the Brownlow with (Joel) Selwood a close second, then (Chris) Judd, then (Dane) Swan and then (Luke) Hodge," Sportsbet.com.au public relations manager Haydn Lane said.
"David Swallow is $2.75 for the NAB Rising Star and you'd have to think that only an injury could stop him from running away with the award and plenty of punters have stepped into him at that price."
Despite the heavy support to win the flag, most agencies still have the Suns favourite to win the wooden spoon.