Bernabeu legend Raul has had his odds cut in the betting on who will be the next Real Madrid manager amid uncertainty over the future of Zinedine Zidane as first-team manager.

Madrid must win their final group game against Borussia Monchengladbach if they’re to stay in this season’s Champions League after losing both home and away to Shakhtar Donetsk.

They’re facing the prospect of failing to reach the knock-out stages for the first time in a remarkable 24 years and, since Madrid are not exactly flying in La Liga either, Zidane is facing his toughest test in football management so far.

Former Tottenham boss Mauricio Pochettino has long been the Bookies' favourite to succeed Zidane and remains the 1/1 favourite, but the biggest mover in the betting market is former Real striker and current reserve team manager Raul.

He’s now 7/2, having been 10/1, putting him second in the pecking order ahead of third favourite Massimiliano Allegri (7/1).

However, free agent Pochettino has in the past hinted that he would like the opportunity to take one of world football's most prestigious jobs.

The Argentine has been out of work since leaving Tottenham last November and he is always among the leading candidates when top jobs become available following his impressive spell in charge at Spurs.

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Real Madrid legend Raul is the second favourite at 7/2 with Paddy Power and Betfair and he would be a popular choice among Los Blancos fans if the club decide to part company with Zidane.

The former Real Madrid captain, who won 16 trophies for the club in 16 seasons, is proving to be an attractive proposition for punters as Real president Florentino Perez would ideally prefer to promote from within and give the job to a club icon. His odds have been cut from 10/1 since Madrid's defeat to Shakhtar.

Former Juventus boss Massimiliano Allegri comes next in the betting at 15/2 and the Italian boasts an impressive CV amid successful spells in charge of AC Milan and Juventus, plus the fact he is now out of work would suit Real as they would not have to pay out big to prise him away from another club.

Guti, another Real Madrid legend, is a 9/1 shot with Paddy Power and Betfair to replace Zidane having spent 15 years with the club as a player and also having managed the Real youth team for five seasons.

Belgium's Spanish coach Roberto Martinez, Germany chief Joachim Low and former Arsenal boss Arsene Wenger are all rated as 12/1 shots with the bookies to take over at the Bernabeu.

Meanwhile, former Real players Xabi Alonso and Fernando Hierro are priced at 20/1 for the job, while current Tottenham boss Jose Mourinho is as big as 25/1 to make a shock return to the Spanish capital.