Sky Bet priced the Reds at evens on Saturday morning to secure the transfer of the Algeria international from the Foxes before the windows shuts at the start of February.
The Merseyside, who were priced 8/1 to sign Mahrez earlier this week, have leapfrogged long-time favourites Arsenal who are now priced 8/1 in the betting, with Chelsea falling 11/1 and Tottenham Hotspur 20/1 also a long way in the race to sign the 2016 BBC Player of the year.
Coutinho has been strongly linked with a move to Barcelona and there is incessant reports coming that he could leave the Anfield to Camp Nou this month.
According to French publication, L’Equipe, the outlet reported on Saturday morning that the Reds have opened preliminary talks with Leicester over signing the 2015-16 PFA Player of the Year this month.
The bookies odds are a fine gesture of the latest state of play of many transfers, and it is noteworthy that the odds on Liverpool signing Riyad Mahrez have tumbled over the last 24 hours. Mahrez might not fit in Coutinho’s shoe, but he would be a fine signing. Already a proven star in the Premier League, the silky Algerian playmaker has a touch of genius on the field and is a consistent scorer and a fine passer. It is not ideal that he is at his best on the right flank, the same position that Mohamed Salah plays, but top players can adapt, and the left-footed maestro has the ability to fit in brilliantly into Klopp’s thrilling attacking side.