After current West Brom boss was granted permission to speak to the governing body about the vacant managerial role with the Three Lions, Jim Knight looks at the markets
Paddy Power are now offering 1/7 (1.14) on Hodgson getting the job, the same bookmaker make the current side 10/1 (11.0) to return victorious from this summer's tournament in Poland and Ukraine but they are still a way behind favourites Spain (5/2) and Germany (9/2) who lead the betting.
Hodgson's potential appointment still sees England as 7/4 (2.75) shots to be eliminated in the group stage though, with the same price available on them exiting as losing quarter-finalists.
Some punters may expect the former Liverpool and Fulham manager to select several of his former or current players in the 23-man squad ahead of Euro 2012 with Paddy Power offering 1/2 (1.50) that West Brom goalkeeper Ben Foster makes the cut, a price which has been trimmed from 5/6 (1.83) before the announcement was made.
Although Joe Hart may have a firm grip on the number one shirt, the other two goalkeeping spots seem much more open and it would be no surprise if Hodgson chose to plump for Foster, who had previously opted out of appearing for the national side in an attempt to maximise his playing career at club level. Would the 29-year-old consider changing his mind on this one?
Former Fulham striker Bobby Zamora, who is now plying his trade at QPR after a January move, is now 7/2 (4.50) to make the final squad. That's a price which has been cut from 5/1 (6.0) and considering the uncertainty around the striking options with Wayne Rooney's two-match ban, that price could prove popular. Paddy Power are also offering a hefty 14/1 (15.0) that no Liverpool players start against France in England's opening game.
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Jim Knight is Betting Editor at Goal.com and has been tipping football games since he was old enough to place a bet. He is a Leicester City fan, writer and member of the We Are Going Up Podcast