The new League Two campaign is nearly upon us, and the football bookmakers have already drawn their early battle lines.
At the top, MK Dons are tipped to make a return to League One at the second attempt, while Newport County and Tranmere Rovers are among the early favourites to drop out of the EFL altogether.
This is a division stacked with ambition, from returning giants like Barnet to perennial bridesmaids such as Notts County and Crewe Alexandra. Throw in some unpredictable clubs with new managers, and 2025/26 has all the ingredients of a chaotic and captivating season.
Promotion Race: MK Dons, Notts County and Swindon Tipped to Challenge
MK Dons are currently 7/2 favourites for the title and look to have addressed the inconsistencies that plagued their 2024/25 campaign. With Paul Warne at the helm and a recruitment drive that has brought in proven names like Aaron Collins and Gethin Jones, expectations are sky-high at Stadium MK. Warne knows what it takes to get out of this league, and the squad has a strong mix of experience and physicality.
Notts County are next in the betting at around 12/1 and will be desperate to finally realise their potential after two seasons of near-misses. Martin Paterson takes charge following Stuart Maynard’s departure, and the summer rebuild has focused on shoring up a leaky back line. The Magpies will need to find goals from new sources after David McGoldrick’s exit, but their attacking approach should still pose problems.
Swindon Town have been one of the busiest clubs over the summer. Ian Holloway has been backed to build a more robust squad, and early signs are that the Robins could be dark horses for promotion. With Jake Tabor joining after an astonishing goal record in non-league football, and Darren Oldaker strengthening midfield, Swindon are currently priced at 12/1 for the title and 3/1 for promotion.
Walsall, Grimsby, Salford, and Crewe are all floating in the 11/1 to 25/1 range, and each has their own appeal. Grimsby look the most balanced on paper, while Salford’s long-term project continues under Karl Robinson. Walsall may struggle to replicate last year’s attacking flair, and Crewe’s consistency under Lee Bell could prove useful in a league where momentum matters.
Relegation Battle: Newport and Tranmere Among the Favourites
At the other end of the table, Newport County find themselves priced as short as 5/2 for relegation. After narrowly avoiding the drop last season, Graham Coughlan’s side have lost key players including Kyle Hudlin and Shane McLoughlin, and they look light up front. Unless they strengthen before the window closes, the bookies’ pessimism looks justified.
Tranmere Rovers are 7/1 to go down, and although that may seem long for such a historic club, last season’s poor away record and general lack of goals remain concerns. There’s still quality in the squad, but performances must improve quickly or they could be dragged into the dogfight.
Cheltenham Town are also hovering around the danger zone at 5/1. Relegated from League One in May, they have not enjoyed the same bounce seen by other demoted sides and look a little stale. Unless something changes, they could find life in the fourth tier more difficult than expected.
Final Thoughts
MK Dons look like the team to beat, with a squad that’s ready-made for success and a manager with pedigree. Barnet and Notts County should both be competitive, while Swindon’s aggressive transfer strategy might pay dividends if their attacking gambles come off.
At the other end, Newport and Tranmere are in real danger unless they find form quickly. Cheltenham and Harrogate may also be watching the bottom two with some concern.
