Leading bookmaker Coral has cut the odds to 6-4 (from 5-2) on Frank Lampard becoming the next Rangers manager.
The Englishman tops the betting ahead of Kevin Muscat (7-2) and Pascal Jansen (4-1) after Michael Beale was sacked on Sunday.
Beale was sacked after 307 days in the post with Rangers seven points adrift of Celtic in the Premiership following their third league defeat of the season against Aberdeen 24 hours earlier.
Steven Davis was put in interim charge and betting has already opened on the next Rangers manager.
Lampard is among the bookmakers’ favourites to succeed Beale, but now odds have been slashed on Chelsea legend.
"Frank Lampard is leading the race to be named the next Rangers manager, according to our betting. The former Chelsea and Everton boss has been well-backed in the last 24 hours to replace Michael Beale," said Coral's John Hill.
Next permanent Rangers manager odds: 6-4 Frank Lampard, 7-2 Kevin Muscat, 4-1 Pascal Jansen, 9-1 Derek McIness, 9-1 Steven Davis, 10-1 Kjetil Knutsen 16-1 Bar.
Meanwhile, Connor Goldson insists Rangers need to “improve dramatically” as he reflected on their embarrassing 2-1 Europa League defeat by Aris Limassol on Thursday night.
Ahead of the trip St Mirren on Sunday, Goldson assessed another poor performance.
The 30-year-old centre-back said: “Obviously disappointing. We have come away from home and expected to win the game as always and we haven’t done so.
“Conceded two poor goals and it is frustrating.
“We need to regroup very fast and we have a lot of hard work to do.
“Same as on Saturday, you concede poor goals and don’t score your chances and the game of football is going to be difficult.
“Concede the first goal – it is my man. I have to do better.
“The second goal, another poor goal but at the moment we are conceding poor goals and we are not finishing at the other end so as a team we need to improve dramatically.
“There is a lot missing. We are conceding sloppy goals and not scoring chances at the other end. Any team that does that is going to find it hard to win games of football.
“It is down to a lot of things, confidence obviously.
“We have had a poor start to the season but the only way you get through a bad spell is by working hard and at the minute we need to work harder as a team.
“We need to run more for each other, we need to fight more for each other, that is the only way you are going to get out of a bad spell.
“The harder you work the luckier you become. You have to work hard every single day. You go home and look in the mirror and know you are doing everything and then you come together as a team.
“I think we need to become a team as quickly as possible, we need to really knuckle down and fight for each other.
“I am not saying we are not doing that now but we have to become a real team as quickly as possible.”
