Betfair have offered, strangely, a direct 2/1 favourite odds on Steven Gerrard returning as Rangers manager, with his former Rangers assistant Michael Beale second-favourite at 4/1 while Sean Dyche, who hasn’t ruled himself out of the potential job, is 8/1.

Now what does all this mean?

Well, firstly, this was a statement released by Betfair, specifically a gentleman by the name of Sam Rosbottom, so as yet Betfair and other bookmakers have not offered a market in next Rangers manager odds at all.

Curiously they do for many PL clubs and even England, but not Rangers.

Now what does all that mean?

Well, the lack of market means there’s just not been enough bets to justify one – bookies are all about money, money money money, and they will exploit every market they can find to make the stuff. But right now there’s not enough betting on a new Rangers manager to justify having the market.

Secondly, the odds Rosbottom offered are based on what Betfair themselves deem accurate – and that’s how odds break down – a combination of ‘chance’, as in what the bookies believe, and betting patterns, as in what punters are actually putting their money down on.

At the moment, this is purely Rosbottom offering Betfair’s own take on things at Ibrox, and while bookies know a thing or two alright, it’s based purely on conjecture, and opinion. Plus what numbers they believe will encourage the most punts.

Overall? Gerrard first Beale second?

Gerrard’s name is there to attract the bets, but Beale’s name is there because he sincerely is one of the top punts along with Dyche, and both Dyche and Beale have not ruled themselves out of the Rangers job if it came up, with Beale deliberately avoiding even discussing it.

But, we’ll need to wait and see if Gio survives the day first. Is he a dead man walking at Ibrox? There are rumours he’s already gone, but time will tell before we find out if those rumours have any basis in reality or it’s just Rangers rumours going mad as always during times like these in Govan.