Betfair.net

Mark Cavendish's lead slipped away yesterday as he was badly affected by a pile-up towards the end of the stage. This now leaves him 1min 25sec behind the new overall leader, Alessandro Petacchi.

Petacchi completed the third stage in 4hrs 45min 27sec to take a great win from further back in the finishing pack in an exciting end to the race. The 35-year-old missed the race last year as a result of a doping ban imposed after he was found to have too much salbutamol in his asthma inhaler.

Lance Armstrong fans will surely be delighted with his amazing return to form which sees him in fifth overall with only a 31sec gap to Petacchi. Armstrong's cycling odds sit at 11.5 ahead of the fourth stage and, looking at the Betfair graphs, he has attracted a lot of betting activity for this race. Coming back from a three-year retirement and a recent lay off following a broken collar bone makes his form all the more impressive.

However, Ivan Basso, who currently sits in 24th place in the overall standings, still holds the favourite spot in the Betfair Giro market.

The excitement of the race continues today with a 162km stage from Padua to San Martino di Castrozza.