Even though the show does not get under way until Sunday and Pasquale has rarely appeared on primetime television since his heyday during the 1990s, the comic is gaining massive public support, according to bookmakers.
William Hill has been forced to slash the odds on him winning from 10/1 to 7/2 favourite, with the bookmaker's spokesman Rupert Adams saying: "No one has ever been backed to such an extent before the programme has even begun, but if the voting public don't take to Joe's jokes and squeaky voice, the result won't be very funny for our punters."
Ladbrokes has also followed public support for Pasquale by putting him joint favourite on 4/1 alongside Appleton, who was clear favourite on 3/1 earlier this week.
For William Hill, odds of 6/1 are being offered on former All Saint Appleton winning, with Antonio Fargas, who played Huggy Bear in 'Starsky and Hutch', now in second place behind Pasquale on 5/1.
Former Three Degrees singer Sheila Ferguson is now the rank outsider with William Hill and Ladbrokes at 12/1 and 14/1 respectively.
Other bets taking place surrounding the show include William Hill offering odds of 2/1 that a celebrity will walk off the show rather than be voted off, as John Lydon and Daniella Westbrook did in previous series.
William Hill is also taking bets on which celebrity will strip off first, with Vic Reeves' lap dancer wife Nancy Sorrell the 11/10 favourite, followed by model Sophie Anderton at 6/5.
An online game involving players stamping on bugs has been added to an expanded website devoted to the ITV programme.
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