Bookmaker Paddy Power have already paid out on Newcastle United being relegated this season.
The move comes following the departure of Rafa Benitez, with the club confirming that the Spaniard has failed to agree a new contract and will leave in six days time following the conclusion of his current deal.
A statement from Newcastle read: "It is with disappointment that we announce manager Rafael Benitez will leave Newcastle United upon the expiry of his contract on 30th June 2019.
"We have worked hard to extend Rafa’s contract over a significant period of time, however it has not been - and will not be - possible to reach an agreement with Rafa and his representatives."
But Bentiez's decision to depart St James' Park has saw the club's odds cut ahead of the new campaign.
Originally priced at 1/10 to remain in the Premier League by Betway, the Magpies are now 10/3 to be relegated, and are now 14/1, from 25/1, to finish rock bottom of the division.
A top 10 finish is now 13/8 from 11/10, while a bottom half finish is priced at 4/9 from 4/7.
But for those of the Toon Army who are feeling optimistic following the departure of their manager, a top six finish is now priced at 20/1 from 16/1, while the Magpies are now 50/1 to secure a top four finish.
Newcastle United are also 400/1 to be crowned Premier League champions come May next year.
But one bookmaker clearly believes there is no hope for the club.
Paddy Power have confirmed on Twitter that they have already paid out those who have backed the Black and Whites to go down this season.
Their tweet read: "After the Rafa Benitez news, we have PAID OUT on Newcastle to be relegated from the 2019/20 Premier League."
