Bookmakers have suspended betting on Rangers to be relegated from the Ladbrokes Premiership top flight this season after a flurry of activity.
Oddschecker confirmed that certain bookies had stopped taking bets on Graeme Murty’s side to go down, claiming it was because of rumours that the Ibrox side were facing administration.
Rangers were 5000/1 to be relegated on Sunday, but odds had dropped to 500/1 within the space of 24 hours as several punters decided to back the audacious bet.
The Light Blues currently sit third on 40 points, which is twice the total accrued by Partick Thistle, who occupy the relegation play-off spot in 11th.
Oddschecker spokesperson George Elek said: “There has been some strange goings on in the betting world.
“Here at Oddschecker we’ve seen a huge spike in bets on Rangers to finish bottom, a ridiculous bet when you consider how far off the drop they are.
“However, with rumours starting to circulate on social media, and bookmakers suspending markets, it is easy to see how the story is starting to gather pace.
“We’ve seen an abnormally massive amount of bets on Rangers to be relegated today, with punters piling in on the massive price of 5000/1.
“So much so, that bookmakers will no longer take bets on Murty’s team finishing bottom of the league – despite being a whopping 23 points off of it.
“To call it a strange would be an understatement, and Oddschecker sources have confirmed the unusual activity in the betting for Rangers to be relegated, similar to the circumstances the club faced first time around with their financial struggles.”