It has been reported that Defoe is being allowed to leave Bournemouth in January having struggled to get minutes on the pitch.
He has made just four substitute appearances in the Premier League with his only starts for Bournemouth coming in the Carabao Cup.
And bets have been placed on the former Tottenham and West Ham man heading north of the border for the first time in his career.
Coral have revealed they have received a number of bets on Defoe joining Rangers with the 36-year-old 8-13 to have Steven Gerrard’s side as his next club.
“The most popular bet in our transfer specials in the last 24 hours has been for Jermain Defoe to move up north to Scotland to play for Rangers,” said Coral’s John Hill.
“The Bournemouth striker has not played much football so far this season but he is odds-on now to sign for Steven Gerrard’s side before the end of this month.”
Rangers do have a number of strikers in their ranks with Alfredo Morelos impressing this season.
Indeed Morelos is the top scorer in the Scottish Premiership having bagged 12 goals and he recently hinted that he expects to be the subject of offers this month.
Morelos said: “It’s very likely there are several teams looking at me and there are offers, but there is nothing concrete yet.
“I have to wait until the last game of the year is played and will try to end 2018 in a positive way.”
And Rangers captain James Tavernier believes it’s key that Gerrard manages to keep hold of his star man.
Tavernier said: “If any player is on 20 goals they will attract attention.
“He’s been playing really well and if you will get interest from a lot of places.
“He’s a goal scorer and it’s key for us to keep hold of him and we’ll now need to see what happens.
“He’s improved since he came in. He’s improved massively.
“He’s a huge part of our game, holding the ball up, scoring goals and generally getting in and around their defence.
“He’s a talisman for us up front and it will be key to hang onto him.”