Filly Memo is the new Magic Millions Classic favourite after a slashing run in defeat at Wyong.

O'Ole and Memo have rocketed to the top of markets for the Magic Millions Classic at the Gold Coast after running one-two in a key lead-up race at Wyong.

The Bjorn Baker-trained O'Ole ($5.50) had a long neck to spare over Memo ($4.80) in Wednesday's Magic Millions Wyong 2YO Classic (1100m) after camping outside the lead and holding on to score, the latter flashing home from back in the field to just miss.

Memo's eye-catching effort prompted bookmakers to mark her as the new $5 favourite for the January 11 feature with O'Ole promoted to the second line of betting at $8.

Baker's racing manager Luke Hilton confirmed the winner would take her place in next month's juvenile showpiece, adding he was happy to see her handle the race day experience better than she did when fifth in the Golden Gift (1100m) last start.

"She paraded well today. She was tough, she was outside the lead so she had to do it the hard way, but she fought on well and it was a really good win," Hilton said.

"Drawing a gate made a big difference today. Jase (Collett) didn't have to push or pull, he could just land where he wanted to. She is a lovely filly and she deserves her spot in the Millions.

"We've got her there now, we've just got to hold her together and it will be a good week in January."

Baker's stable also produced third placegetter Horseshoe Hill, who was making her debut and closed late down the outside to finish a length behind the runner-up.

Hilton was unsure of immediate plans for her but expected she would improve as she matured.

"She is definitely six to twelve months away so for her to sit off them like that and hit the line like she did, she's got a future as well," he said.

"We will see how she pulls up and see where we go with her."

While O'Ole is assured of a Magic Millions Classic (1200m) start, Memo may need to run again and boost her prizemoney to be guaranteed a place in the field.

Tempestuous started a $2.30 favourite on Wednesday and had been at the head of betting for the Gold Coast showpiece but eased to $8 after tiring in the straight to finish fourth.