Moyes now second favourite to replace Lennon at the Scottish champions.
The odds on David Moyes becoming the new manager of Glasgow Celtic have been slashed.
Neil Lennon parted company with Celtic on Thursday afternoon, leaving Parkhead after four full seasons in charge.
Moyes, who was sacked by Manchester United in April, was initially priced by most bookmakers at 10-1 to replace Lennon.
However, after receiving heavy backing, he has been cut to 5-2 in places, while Boylesports and Bet365 are offering a best price of 7-2.
Club legend Henrik Larsson, who scored 242 goals for the Hoops between 1997 and 2004, is the favourite for the Celtic hot-seat.
Larsson, 42, is currently in charge of Falkenbergs FF in Sweden.
Malky Mackay, Jackie McNamara and Owen Coyle are also among the front runners in the betting.