Following defeat to Rangers in the final Old Firm clash of the weekend, Neil Lennon is no longer the odds-on favourite to land the Celtic job permanently.
The Northern Irishman is still top of the bookies list but has drifted to 7/5 with Paddy Power.
The bookmakers have revealed that Chris Hughton's price has come in from 33/1 to 6/1 to become the new Celtic boss, putting him third in the shortlist.
Following his sacking by Brighton & Hove Albion, punters have been prompted to back the ex-Newcastle United manager for the job.
Hughton, a former Republic of Ireland international, had been in charge at the Amex since 2014, guiding the team into the Premier League in 2017.
David Moyes is second favourite, and has slipped out of contention for the Scotland job. Kilmarnock boss Steve Clarke is outright favourite at 1/6 to be appointed the new national team manager.
A spokesperson for Paddy Power said: “Chris Hughton, again, gets rough justice after doing a decent job. He deserves some support, and he’d get plenty of that at Celtic.
“One place he hasn’t lacked support, though, has been in our betting. The backing he’s received there has been extraordinary, and could point to a quick return to management.”