MICHAEL O'Neill has been installed as the bookies' favourite for the Scotland job after Northern Ireland suffered defeat in their World Cup play-off.

O'Neill's side were held to a 0-0 draw away to Switzerland on Sunday, a result that saw their hopes of reaching Russia 2018 end with a 1-0 aggregate loss. 

The manager, who currently lives in Edinburgh, has been touted as one of the leading contenders to permanently succeed Gordon Strachan since he left the post last month. 

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Read more: Switzerland 0 Nothern Ireland 0: Michael O’Neill coy over future as World Cup dream dies

And Northern Ireland's exit at the play-off stage has seen bookmakers Betway and Paddy Power slash odds on the 48-year-old taking over to 7/4.

Both bookies have Paul Lambert and Alex McLeish as the next most likely candidates to take over, after Malky Mackay was ruled out of contention by Scottish FA chief executive shortly before last week's friendly defeat to the Netherlands. 

O'Neill took over as Northern Ireland boss in 2011 after previous spells with Shamrock Rovers and Brechin City.

His stock rose last summer when he led the country to its first ever European Championship and first major tournament in 30 years at Euro 2016.

Victory against Ukraine in France saw them progress to the first knockout round, where they were eliminated by Wales.

He then led the side to second place in World Cup qualifying group C after winning six games from 10, finishing ahead of the Czech Republic, Norway, Azerbaijan and San Marino.