FORMER Rangers player Billy Davies has been installed as one bookie's favourite to take over from sacked boss Pedro Caixinha - but it might be mischief.

Davies, who has been out of work since being dismissed as Nottingham Forest manager in March is down as 4/1 favourite by Paddy Power.

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Paddy Power said it has slashed the odds on Davies getting the job in recent days, after a series of bets in the Glasgow area, which has seen him leapfrog Kenny Miller (7/1) in the betting.

But the bookmaker may be making more mischief at the club's expense  after Davies last month spoke of the lies he insists have prevented him getting back into football.

He told of a vendetta from an unnamed PR company that denied him the chance to work at Ibrox and which stopped him succeeding Ian Cathro at Hearts.

"You'd think, over all this time, somebody like me should have had my hand bitten off — by Rangers, by all these English Championship clubs — because I am a very good football manager. Just look at my record. So let's not be kidded here, it has been a smear campaign," he said.

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Derek McInnes - the REAL bookies favourite

Our survey of bookmakers odds shows Aberdeen boss Derek McInnes as favourite for the Ibrox hot seat at 5/2 with Billy Davies at 3/1, former Rangers boss Alex McLeish at 13/4 and caretaker boss Graeme Murty on 6/1.

Sacked Crystal Palace boss Frank de Boer was a 21/2 shot, current Rangers star Kenny Miller was at 11/1 and St Johnstone boss Tommy Wright was 35/2.

Paddy Power said Aberdeen boss Derek McInnes sits between Davies and Miller in the Paddy Power betting at 11/2.

While a popular, but shock, return for Alex McLeish is seen by Paddy Power who have previously produced trolling stunts and poked fun at Rangers as more of a long-shot (15/2).  Likewise, current Scotland interim coach Malky Mackay is a 14/1 shot.

The Herald: OPTION: Alex McLeish yesterday

Former England manager Sam Allardyce who is among the favourites for the Scotland job is also in the mix at 12/1.