THE betting odds for Rangers and Celtic to win the Europa League have been revealed. 

And Light Blues fans will be the happier of the Old Firm pair. 

Both of Scotland's European representatives enter UEFA's second competition tonight. 

Celtic are in Seville to take on Real Betis in their Group G opener, with this game selected for an early kick-off. 

Meanwhile, Rangers host Group A favourites Lyon on Matchday One at Ibrox. 

As is customary before a new season tournament starts, betting firms have released their odds to punters to ramp up the excitement ahead of kick-off. 

And while the Europa League winner historically depends on the teams that drop out of the Champions League after the group stages, fans of the clubs entering the competition from the very start are entitled to dream of going all the way. 

Rangers have been priced at 50/1, while Celtic are out at 66/1 on BetVictor. 

Rangers Review: Europa League action returns tonightEuropa League action returns tonight

So the bookies are backing Steven Gerrard's outfit to outperform Ange Postecoglou's men on the continental front this term. 

The Scottish champions have progressed further in the Europa League in each of the previous two campaigns - with the Hoops not even making it out of the groups last time out. 

Rangers' group consists of Sparta Prague, Brondby and the aforementioned Lyon. 

Celtic also have a tough task on their hands as they battle it out with Bayer Leverkusen, Ferencvaros and MatchDay One opponents Betis.

Brendan Rodgers' Leicester City have been ranked as tournament favourites at 12/1 along with Napoli. 

Fellow Serie A side Lazio are out at the slightly larger odds of 14/1, while last season's surprise Premier League package West Ham are 16/1.

Leverkusen and Real Sociedad can be backed at 20s, with Lyon and Frankfurt priced at 25/1.

Real Betis and Marseille make up the top ten favourites, priced at 33/1 and 40/1 respectively.