Manager Phil Brown insists Hull are play-off semi-final favourites after missing out on automatic promotion after a 1-0 defeat at Ipswich.The third-placed Tigers now face Watford over two legs after Stoke beat them into second place.
Ipswich, who missed out on a top six finish by a single point, deservedly beat Hull 1-0 at Portman Road to finish in eighth.
Brown said: "It's a lottery now, as every manager will tell you. We're in the semi-final of a cup. Watford are not the form team at this moment in time so, probably, going into the game, we'll be favourites. We'll be well-equipped for it."
Brown admitted the final game of the regular season may have been a "bridge too far" for his team, who needed to win and hope Stoke lost.
"It was always going to be a good game of football," said Brown.
"They played in an attacking formation, we played in an attacking formation.
"We disappointed in the final third.
"Over the 46 games, the players have been superb. It was a bridge too far.
"They deserve whatever plaudits they are getting but obviously we're disappointed we are just in the play-offs."
But following his side's fourth bottom finish in the last campaign, Brown said he was satisfied with the progress made.
"If someone had offered us third at the start of the season, I would've taken that," he said.
"To be disappointed at finishing third is testament to how far we've come this year."
Striker Alan Lee, who headed home a 70th minute winner, could have been playing for Hull but their early-season bid was rejected by Ipswich.
"Ironically, the lad we tried to sign at the start of the season scores against us - that's probably testament to our scouting system," joked Brown.
Ipswich boss Jim Magilton tipped Hull for play-off success.
"They've got experience, they've got movement," he said.
"This won't bother them too much. We wish them well."
Ipswich went into the game needing results involving Crystal Palace, Wolves and Watford to go their way.
But Magilton said he was unaware of other scorelines and was focused on his own team's performance over the 90 minutes.
"At the end of the day, we just needed to win our game, which we did," said Magilton.
"It gives the players something to think about over the summer. It was that close."
Magilton pledged to bring in new faces for next season.
"We're going to be bringing in better players," he said. "We're going to get rid of the players who are not going to take us forward."
He added: "No one said it was going to be overnight. It's a building process and we're getting there."
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