Little Mix beat off stiff competition from fellow finalist Marcus Collins to become the first band in the history of the ITV1 show to be crowned champions.

It is estimated punters will collect over £200,000 in winning bets after the girl group had been the favourites for several weeks, but it is the girl group themselves that are set to rake in millions with music tycoon Simon Cowell laying plans to turn them into the next Spice Girls.

The girls were very emotional, wiping away tears as they told of their delight after the decision at the packed Wembley Arena in North London.

The four girls won the public vote and beat hairdresser Marcus Collins, to the title. Gracious in defeat, Marcus said: "The girls really deserve it. They are amazing."

The girl band have already launched their attack on the charts with a rendition of Damian Rice’s “Cannonball”, which was chosen to be the winners track a few weeks ago. However, Little Mix weren't installed favourites to be Christmas Number One by bookies last night.

In recent years the X Factor winner has been the most fancied to be the festive top seller. But last night they were only made 9/4 second favourites behind the Military Wives track "Wherever you are".

Jessica Bridge of Ladbrokes said: "Little Mix will serve it up to the Military Wives in the battle for the Christmas Number One race. We still reckon Gareth and the Wives are in pole position for now, however."