Malaga coach Manuel Pellegrini is the 1/7 favourite with Sky Bet to be the next Manchester City manager after Roberto Mancini's sacking was confirmed on Monday night.
The Chilean has denied that a deal is already in place for him to take the City job but speculation is rife that he will be the man arriving at the Etihad Stadium.
"Today, I deny I am going to be the new manager of Manchester City," Pellegrini told a press conference on Sunday night.
"I have not signed an agreement with anyone, not with Manchester City, not with Roma, not with Napoli, not with PSG, not with any of the clubs who have been mentioned.
"In the next few days I hope to clarify a bit what the future will be here in the club."
Jose Mourinho is next in the betting at 6/1 and the Real Madrid chief was getting a lot of attention in the market before Mancini's departure was officially confirmed.
Current Chelsea interim manager Rafa Benitez is 14/1, and it's 28/1 bar.
Sky Bet's Chris Spicer: "City's interest in Pellegrini has been one of the worst kept secrets in football with punters backing him for the job as long ago as February, with further runs of money coming both before and after their FA Cup final loss.
"We've already seen some hugely significant developments ahead of next season which have caused a notable reshaping of our 2013/14 Premier League title betting, with City now joint favourites with United following Sir Alex Ferguson's retirement."
City have also been backed into 1/3 to sign Malaga star Isco on the back of the Pellegrini gamble.