David Moyes is favourite to become Scotland's new manager after the Scottish FA confirmed Gordon Strachan's departure.
Malky Mackay had been the early favourite with Sky Bet for the role which became vacant after Strachan failed to guide the team to the 2018 World Cup.
A 2-2 draw in Slovenia on Sunday was not enough for the Scots to reach the play-offs and the SFA has now confirmed Strachan's contract will not be renewed. He will leave his post with immediate effect, along with assistant Mark McGhee.
Former Manchester United and Everton boss David Moyes has now been cut to 11/8 favourite following news of Strachan's departure earlier in the day. Highly regarded when in charge at Goodison Park, the former Celtic defender has seen his stock dive following unsuccessful spells at United, Real Sociedad and Sunderland.
Paul Lambert, out of work since leaving Wolves last season, and current Aberdeen boss Derek McInnes were others prominent in the early betting.
View from the bookmakers...
Mackay and Moyes were immediately installed as the favourites as it became apparent that Strachan would be leaving the role. However, the pair are what they would call ‘soft favourites’ in the industry, with their relatively short prices attracting little interest.
Lambert is the man closing in on the head of the betting, shortening from 6/1 to 7/2 amid strong support from Sky Bet punters, while McLeish has been the other main mover, with his price halved from 12/1 to 6/1 since Strachan’s exit.
Sam Allardyce is actually the worst result in Sky Bet’s book, having been backed at as long as 20/1. The former England boss is now just 6/1 for the post, while Michael O’Neil is another name backed to manage a second different Home Nations team, with his price coming in from 20/1 to 8/1.
The two main drifters are Neil Lennon, has gone from 10/1 to 16/1 amid little support from punters, and Derek McInnes, going out from 6/1 to 14/1 since betting started.
The new manager will be in place at Hampden in time for next season's UEFA Nations League campaign and subsequent Euro 2020 qualifiers.
SFA chief executive Stewart Regan said following a board meeting on Thursday: "On behalf of the board I would like to thank Gordon for his excellent service to the national team. I know how disappointed he was that we couldn’t secure a play-off place but to come so close was a tribute to the belief he instilled in his squad.
"After almost five years the Board felt it was time for a new direction to prepare for the UEFA Euro 2020 qualifying campaign and also the forthcoming UEFA Nations League.
"We are grateful to both Gordon and Mark for their efforts and wish them the best of luck in the future."
Strachan took charge in January 2013 but failed to end Scotland's tournament finals drought, one which stretches back to the 1998 World Cup. The draw with Slovenia meant Scotland misses out on a play-off spot, finishing third in their group behind England and Slovakia (on goal difference).
He said: "I said on my first day as Scotland manager that it was the proudest moment of my career and that I wanted to put a smile back on the nation’s face again. I share the profound disappointment at missing out on the play-offs, especially having worked so hard to fight our way back into contention.
"The players should receive immense credit for that resilience in coming back from a difficult start and I would like to thank each and every player who has come in to represent their country.
"Together we have shared some really magical moments and those memories will live with me for ever.
"Of course, what made those moments special was the unwavering support of our fans. Through highs and lows you have stayed with the team and my biggest regret is not being able to provide the finals tournament you deserve.
"I would like to thank the board, the backroom staff and everyone at the Scottish FA for the help and support they have given me as national coach. It has been a real privilege."