Malky Mackay is no longer the outright favourite to become the new Cardiff City manager with one firm of bookmakers following an Irish-led gamble on Alan Shearer.

The Watford boss had been as low as 1-3 to succeed Dave Jones over the weekend but Paddy Power now have him as joint even-money favourite with the former Newcastle United manager.

Mackay remains odds-on to take over the Bluebirds with three other firms, but Shearer’s odds are continuing to shorten with them and range from 6-4 to 7-4.

The Hornets have received no official approach for Mackay but the South Wales Echo is claiming the Bluebirds are “a few days away” from naming their new boss but “the majority of the Cardiff board [are] believed to be firmly behind the appointment of Mackay”.

The gamble on Shearer originated in Cork area of southern Ireland and William Hill spokesman Graham Sharpe told the South Wales Echo bets of up to 200 euros apiece were being placed from last night and “we wouldn’t be surprised to see Shearer become favourite over Malky Mackay very shortly”.