The betting website pegs Harbaugh's odds of coaching the Oakland Raiders next year at 2/1 and the New York Jets at 3/1. Harbaugh is currently the coach of the San Francisco 49ers, but the team reportedly will fire him within two days of the end of the regular season.
49ers general manager Trent Baalke acknowledged this week that Michigan has contacted the team about Harbaugh. A report last week said that Harbaugh is "torn" between taking the Michigan job and remaining in the NFL.
Sources told ESPN's Adam Schefter that Harbaugh would like to survey the NFL head coaching market before making a decision on Michigan. The Wolverines fired Brady Hoke earlier this month after four seasons, including a 5-7 campaign in 2014.
Harbaugh's family and friends have encouraged him to take over in Ann Arbor, but Harbaugh's "heart is in the NFL," according to Schefter. Michigan has hired a search firm to provide assistance in its coaching search.
The NFL Network reported that the Wolverines have offered Harbaugh $48 million over six years to become their head coach. Bruce Feldman of Fox Sports said that the amount of money offered to Harbaugh is "not close" and that no formal offer will be extended prior to the completion of the NFL season.
Schefter, who reported that Harbaugh would like to make a decision after season, recently said that the pendulum "seems to have swung from him staying in the NFL to him perhaps going back to college." The 49ers (7-8) play their final game against the Arizona Cardinals in San Francisco on Sunday.
According to Schefter, recruiting is not a concern for Harbaugh, who has an "undisputed emotional connection" with Michigan after playing quarterback there in the 1980s. In addition, Harbaugh's father was an assistant under iconic coach Bo Schembechler.
Harbaugh, 50, has one year left on his five-year contract with the 49ers but is believed to have a strained relationship with team management. Asked last week if he had been contacted by Michigan, Harbaugh said, "As you know, I only talk about the job that I have."