PETER Reid was branded a dead man walking by bookmakers last night as they slashed the odds on him winning the Premiership 'Sack Race'.

Paddy Power yesterday cut the price on Reid being the first top-flight manager to lose his job this season from 7-4 before the St James' Park shambles to a prohibitive 4-9.

The decision shows bookmakers and punters alike are convinced Reid's days on Wearside are numbered after the derby debacle, despite the Sunderland manager's insistence that he will not resign and chairman Bob Murray adamant that he won't sack his boss.

Reid's nearest "rivals" with Paddy Power, Aston Villa's Graham Taylor and West Ham United's Glenn Roeder, are both 5-1.

Sean Lyons, an odds compiler for Paddy Power, said: "I can't see anybody else getting the boot before Peter Reid, no matter how the results go elsewhere.

"The only ones who come close are Graham Taylor and Glenn Roeder, and we think they'll get at least another month.

"The chances of Peter Reid surviving until the end of the season aren't that great, and that's reflected in our odds.

"Peter Reid's a good guy but obviously that can't come into our thinking. The fact is he's by far the most likely to be the first to go.

"Sunderland are a very limited side and they miss Kevin Phillips, who will always get a few goals even when he's not on fire.

"We've taken a few quid on Reid. A few people didn't like the look of Roeder before the season started, but the bets on Reid have been coming in consistently for a while now.

"Because of that, and because he's a decent bloke, we wouldn't mind him keeping his job. But you do fear the worst for him."

Paddy Power are offering 11-8 on Sunderland beating Villa at the Stadium of Light this Saturday - the day that could ultimately decide Reid's fate after seven-and-a-half years at the helm.

In another setback to Sunderland last night, the embattled club's share price fell yesterday. Having begun the day at 165p, it closed at 162.5p on the back of Saturday's humiliation.

Former Sunderland striker Eric Gates last night made a scathing attack on Reid's tactical acumen, after the Sunderland manager's decision to deploy Tore Andre Flo as a lone striker at Newcastle did not pay off.

Speaking on Century FM, Gates said: "People said the game was over when Newcastle scored after 83 seconds, but for me, the game was over when we saw Sunderland were playing one up-front.

"The win at Leeds, when Kevin Phillips was the lone striker, was a fluke. The tactics have been terrible the other 30 or 40 times he has played that system.

"We've got nothing in midfield and nothing up front.''

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