The safe bets look to be Beyonce and Sam Smith. Here are the odds:
Album of the Year
Beyonce - Beyonce - 11/10
Sam Smith - In The Lonely Hour - 15/8
Ed Sheehan - X - 7/2
Beck - Morning Phase - 6/1
Pharrell Williams - Girl - 10/1
Record of the Year
Sam Smith - Stay With Me - 5/6
Sia - Chandelier - 3/1
Taylor Swift - Shake It Off - 4/1
Iggy Azalea (ft. Charli XCX)- Fancy - 5/1
Meghan Trainor - All About That Bass - 12/1
Song of the Year
Jimmy Napes, William Phillips and Sam Smith - Stay With Me - 4/7
Hozier - Take Me To Church - 3/1
Sia and Jesse Shatkin - Chandelier - 10/3
Max Martin, Shellback and Taylor Swift - Shake It Off - 9/1
Kevin Kadish and Meghan Trainor - All About That Bass - 14/1
Best New Artist
Sam Smith - 1/14
Bastille - 9/1
Iggy Azelea - 10/1
Brandy Clark - 12/1
Haim - 16/1
So Sam Smith, at least according to these odds, is expected to sweep three of the four major categories while Queen B is favored for Album of the Year. But you won't see much of a return on betting the favorites, especially on Smith for Best New Artist (a $10 bet would only net a 71 cent profit).
If you are so inclined to place a wager, you can use this handy fixed odds calculator to find out how much a successful bet would earn you.