Zeljko Buvac all the rage to take over the reins at Arsenal

Zeljko Buvac stormed to the head of the betting to replace Arsene Wenger at Arsenal following an astonishing gamble on the Liverpool first-team coach on Tuesday.

Buvac, who left the Reds citing personal reasons on Sunday, was all the rage after a story broke in his homeland suggesting he had landed the Emirates job.

The Bosnian was slashed from 50-1 to 7-2 as bet365 ran for cover, while Betway went 11-4 after introducing him into their market at 10-1.

Buvac was a 33-1 shot in Ladbrokes' book on Tuesday morning but that price quickly disappeared as punters piled in. By the time their market settled he was no bigger than 3-1, and Jurgen Klopp's former assistant was 5-1 with bet365 at 7pm.

Max Allegri remains the market leader at a general 4-1.

Steven Gerrard is the 1-6 favourite to be named new Rangers manager after the Ibrox side sacked Graeme Murty.

The Gers hierarchy reacted following Sunday's humiliating 5-0 loss to Old Firm rivals Celtic.

Cardiff boss Neil Warnock is the 9-1 second favourite.

Today's top sports betting stories

Follow us on Twitter @racingpostsport

Like us on Facebook RacingPostSport