The 64-year-old was formally announced as the next Three Lions boss at Wembley but is already odds-on not to be in charge at the end of Euro 2016
Paddy Power offer 5/4 (2.25) for the former Liverpool boss to see out his four-year deal with the FA. That's a price which looks quite short considering the role potentially covers three major tournaments, the 4/7 (1.57) on him not being England manager at the end of the Euro 2016 campaign looks more appealing at this point in time.
The same firm offer 9/4 (3.25) that Hodgson will still be in charge of the Three Lions squad for the first match of the 2018 World Cup qualifying campaign.
Steven Gerrard remains 5/6 (1.83) favourite to captain England against France in the team's first game in Poland and Ukraine this summer, Scott Parker, who had previously been well backed when Harry Redknapp was expected to be offered the role, is out to 6/4 (2.50) with Joe Hart next in the betting at 9/1 (10.0).
There was no comment on the matter from Hodgson who avoided being drawn on the subject when questioned by the media but did confirm that Wayne Rooney would be part of the 23-man squad this summer, despite missing the first two matches through suspension.
David Bernstein, chairman of the FA, cited the importance of Hodgson's international experience as well as his achievements at club level in his appointment. Bernstein also indicated that the shortlist of potential candidates was longer than just two people, Harry Redknapp, the previous odds-on favourite for the job, is 2/1 (3.0) to ever manage England and 4/1 (5.0) to win a trophy should he take the role in the future.
Hodgson insisted that England would travel to Poland and Ukraine, they are available to back at 10/1 (11.0) for victory. Spain are still the favourites at 5/2 (3.50) to defend their European crown.
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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
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