Some significant stakes on Sunday evening saw the Portuguese manager cut from 25/1 to evens to replace Jose Mourinho, who is widely expected to leave the Bernabeu this summer.
The backing follows support for the Spanish giants to also sign Spurs' star man Gareth Bale, with their price to secure the winger's services this summer currently 5/4 ahead of Manchester United (5/2) and Chelsea (10/1).
Champions League football was thought to be crucial to the North London outfit retaining their key man, but Sunday's 2-2 draw with Everton saw them drift out to 5/4 to finish in the Premier League's top four.
Sky Bet Football Trader Chris Spicer said: "Villas-Boas has silenced the majority of his doubters this season and follows in the mould of Mourinho with his football philosophy but lacks the overbearing ego, which has caused so many fractions in Madrid, so he could well be the perfect fit for the Bernabeu.
"The key to his success at Spurs has been getting the best out of Bale, so if the Welshman is their main transfer target this season then acquiring his current manager would certainly do their chances no harm."
Manchester United host Manchester City's in tonight's big Monday Night Football derby clash and we have all angles covered.
Our Nick Hext says Manchester United just have to be the call when they face Manchester City at Old Trafford tonight.
Find out how your team is getting on and check the standings in the TC Clockwatchers league (pin number is 8049163).
Via: [Live Football] Luton Town - Grimsby Town - Blue Square Premier League
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