Rangers have been crowned Premiership champions after Celtic's 0-0 draw with Dundee United on Sunday. The Ibrox side have put an end to a 10-year wait to lift the Scottish top-flight title. LIVERPOOL have stormed back into contention for the 2020-21 Premier League title, according to the bookmakers. The Reds had gone five Premier League games without a win, failing to score in four of. Before we break down which teams are most likely to remain in the title hunt until May, let’s look at the latest English Premier League odds. Recent results have seen Manchester City (-350) soar to the summit of the EPL, so it’s no surprise that online sportsbook Bovada has listed the Citizens as betting favorites in the latest English.

What are the Premier League odds for 2020-21 and who are the favorites to win the title?

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Liverpool are just getting used to being Premier League champions but the 2020-21 season kicks off on September 12 and they are not the favorites to win it all once again. Somewhere, Jurgen Klopp wants to know why but is smiling that the bookies are underestimating his team.

With the new season fast approaching, the odds are fluctuating all the time and based on new additions during the final weeks of the transfer window, these odds will change a lot.

Manchester City are currently the favorites to win the Premier League in 2020-21 and they are closely followed by Liverpool.

Manchester United and Chelsea are seen as the clearly contenders to Liverpool and Man City, while nothing separates north London rivals Tottenham and Arsenal with Leicester City and Wolves seen as the upstarts who could cause upsets once again.

Looking further down the odds list, it is surprising to see Leeds United having such short odds but Marcelo Bielsa is building something special with the newly-promoted side and they could replicate Wolves’ success of becoming at least a top 10 contender.

Check out the odds in full below, via our new official sports betting partner PointsBet,

as there will be plenty of selections to make each week with game lines and more available via NBC Sports Bet.

BET you didn't see this coming 😏🤑 pic.twitter.com/hU1Tg0U7ph

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Click here for more odds on the Premier League and beyond from PointsBet.

PointsBet is our Official Sports Betting Partner and we may receive compensation if you place a bet on PointsBet for the first time after clicking our links.

Premier League odds – Champions, outright winner, 2020-21

Man City: -125
Liverpool: +175
Man United: +800
Chelsea: +1400
Tottenham: +6600
Arsenal: +6600
Leicester: +10000
Wolves: +10000
Everton: +15000
Leeds United: +25000
Newcastle United: +25000
Sheffield United: +50000
West Ham United: +50000
Crystal Palace: +50000
Southampton: +50000
Brighton: +75000
Burnley: +75000
West Brom: +100000
Aston Villa: +100000
Fulham: +100000

The Premier League title odds for the 2020-21 season have fluctuated massively in recent weeks, as the festive season has seen the Premier League title race blown wide open.

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Manchester United, Leicester City and Manchester City are surging, while Tottenham are hanging around, Chelsea are slumping and even the likes of Everton and Southampton are in the mix.

Just seven points separate Liverpool in top spot with West Ham in tenth, with four points between the reigning Premier League champions and Everton in seventh place. With lots of teams in the top 10 having at least one game in-hand to play and Manchester United head to Liverpool on Jan. 17, this is just the start of what is going to be an almighty scramble for the title.

[ MORE: Latest Premier League standings ]

Simply put, it is bonkers, and we could be set for the most exciting title race in Premier League history, as this unique season seems to have levelled things out across the league.

Betting odds suggest new favorite for the Premier League title

With all of that in mind, who are the favorites to win it all?

Manchester City have overtaken Liverpool as the favorites with the bookmakers, as Pep Guardiola’s side have gone on a seven-game unbeaten run, winning five of those games, and have conceded just twice during that stretch.

Liverpool are the second favorites after their recent slump, as Jurgen Klopp’s side haven’t won in their last three games and have suddenly stopped scoring boatloads of goals as they keep dropping points away from home. Liverpool still seem like a safe bet to defend their title, but the value looks to be lying with two contenders who nobody seriously expected to be battling for the title this season.

Where is the value in the Premier League title odds

Manchester United and Leicester City provide the best value in this title race. Ole Gunnar Solskjaer has his talented, attack-minded squad firing on all cylinders and the Red Devils are blowing teams away and have shored things up defensively. Nobody expected United to be in the title race this season, but they are unbeaten in 10 and have won eight of those games. Here they come…

As for Leicester, well, Brendan Rodgers has navigated a huge number of injuries early in the season and as long as Jamie Vardy stays fit they have a real chance of finishing in the top four, at the very least. What a story that would be if the Foxes could somehow win it all again with a large number of the squad from 2015-16 still around.

Below are the betting odds for the Premier League title, provided by our partner, PointsBet.

PointsBet is our Official Sports Betting Partner and we may receive compensation if you place a bet on PointsBet for the first time after clicking our links.

Premier League title betting odds

Betting On Premiership Title Match

Manchester City: -112

Liverpool: +220

Manchester United: +700

Betting On Premiership Title Transfer

Tottenham +1400

Chelsea: +4000

Leicester: +4000

Everton: +10000

Aston Villa: +125000

Arsenal: +20000

Southampton: +25000

West Ham: +40000

Leeds: +50000

Wolves: +50000

Newcastle: +100000

Betting On Premiership Title Matches

Sheffield United: +100000

Brighton: +100000

Burnley: +100000

Crystal Palace: +100000

Fulham: +100000

West Brom: +100000

Premier League title favorites, betting odds, analysis originally appeared on NBCSports.com