Perth has slipped to second favourite for the City of Culture title, according to betting giant Ladbrokes.
The Fair City was in the bookies’ pole position since its high profile campaign launch last summer.
But a recent surge of bets on Coventry has seen the West Midlands city take first place.
Ladbrokes is offering odds of 3/1 for Coventry and 4/1 on Perth.
Swansea is at 5/1 and Paisley at 8/1. Outsiders Warrington and Hereford are at 14/1 and 16/1 respectively.
Ladbrokes spokeswoman Jessica Bridges said: “Money talks, and punters are backing Coventry off the boards right now, which has left Perth to fall into second place.”
Local politicians took time off from election feuds to wish Perth all the best with its application.
Perth and North Perthshire MP Pete Wishart said: “It has been a really exciting day for Perth now that the City of Culture bid has been submitted. Lots of work has gone on behind the scenes and I would like to pay thanks to all those staff members who have been working hard at Perth and Kinross Council in order to make this happen.”
He added: “UK City of Culture is a real accolade and could do wonders for the Perthshire economy and add real value to our cultural landscape. The bid has so far shown that we are serious about becoming City of Culture.”
MSP Liz Smith added: ““Perth is the perfect candidate to be named UK City of Culture and the official launch today will hopefully set the ball rolling on a victorious Perth bid.
“The Fair City is home to some fantastic historical and cultural attractions and is a vibrant and growing city.
Murdo Fraser MSP said: “Perth could soon be home to the stone of destiny and an archaeological dig to find our very own king in the car park. We have the perfect blend of culture, history and heritage. In recent months a number of impressive developments have been announced and winning the City of Culture title could cap this off.
“As this is a nationwide honour the implications for a victorious Perth bid are huge, previous winners have seen a substantial upturn in investment and economic development and Perth has all the tools to make the most from this title.”