Newport County are the 2/1 favourites for League Two relegation with bet365 ahead of the 2026/27 season, with Cheltenham Town at 3/1, Accrington Stanley at 7/2 and Crawley Town at 4/1 next in the market. Only two clubs go down to the National League, which makes this the hardest of the three EFL relegation markets to hit. Newly-relegated Exeter City are 11/2, promoted Rochdale are 7/1 and Salford City are the 50/1 outsiders. The market is win-only and settled on the final League Two table, with the season starting on Saturday 15th August.
League Two relegation odds 2026/27
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Odds from bet365, correct at the time of writing.
How does the League Two relegation market work?
The market is win-only, so there are no place terms. A selection wins if the club finishes 23rd or 24th in the final League Two table, meaning only two of the 24 clubs listed pay out. That is why even the favourite trades at odds-against here while short prices dominate the League One equivalent, where four teams go down.
Settlement is on final league position alone. Points deductions applied during the season count in the final table, which matters in a division where financial trouble is common.
League Two relegation has an extra layer: the two relegated clubs drop into the National League, and clubs occasionally leave the EFL for reasons other than results.
Who was relegated from League Two last season?
Harrogate Town and Barrow dropped out of the EFL in 2025-26, bringing Harrogate’s six-season stay to an end. Harrogate finished 23rd on 39 points after losing 2-1 at home to Barnet on the final day, while Barrow ended the campaign bottom of the table with 36 points following a 2-1 home defeat to Newport County.
That victory secured Newport County’s League Two status. The Exiles finished 20th on 43 points, four clear of the relegation zone, despite losing 27 of their 46 league games. Crawley Town survived by a single point after finishing 22nd on 40 points, one year after their relegation from League One. Tranmere Rovers also avoided the drop, finishing 21st on 41 points.
Bromley won the title on 87 points, with Milton Keynes Dons and Cambridge United also promoted automatically and Notts County winning the play-off final 3-0 against Salford City. Exeter City, Port Vale, Rotherham United and Northampton Town dropped in from League One, while York City and Rochdale came up from the National League.
The five favourites for League Two relegation
Newport County (2/1)
Newport are favourites for good reason. They conceded 77 goals last season, the fourth-worst record in the division, and only stayed up because of that final-day win at Barrow. The dugout has been a revolving door: Christian Fuchs resigned in June after seven months, with Chris Todd installed as interim boss and the search for a permanent appointment still unresolved at the end of July. Captain Matt Baker has left for Notts County, and a 4-0 home friendly defeat by Reading prompted Todd to demand his players stop gifting goals. They open at home to Rochdale on 15th August.
Cheltenham Town (3/1)
Cheltenham shipped 79 goals last season, the joint-worst in League Two, and finished 18th on 52 points. Steve Cotterill has rebuilt the defence with former Exeter City captain Pierce Sweeney, Joe Tomlinson from Milton Keynes Dons and goalkeeper Wyll Stanway, plus midfielders Charlie McCann, Jordan Shipley and Shaun McWilliams. The problem is at the other end: Cotterill has been hit by a double setback in his search for a striker and wants four or five more players. Six senior signings is a decent summer’s work, so 3/1 looks a shade short if the goals arrive.
Accrington Stanley (7/2)
Accrington finished 16th on 53 points with a minus-11 goal difference, respectable enough on the surface but built on a poor second half of the season. John Doolan has recruited sensibly on a small budget, adding defenders Joe Anderson and Tom Moore, midfielder Stefan Mols from Tamworth and, most importantly, striker Cole Stockton from Salford City on a two-year deal. Captain Seamus Conneely has extended into a 13th season at the Wham Stadium and goalkeeper James Rogerson has also re-signed, so there is continuity here.
Crawley Town (4/1)
As the local press noted, Crawley are near the head of the relegation market every summer, and last season they justified it by surviving on the final day with 40 points. The number that stands out is 16 draws, the joint-most in the division — plenty of competitiveness, not enough wins. Colin Kazim-Richards was given the job permanently after keeping them up and has insisted on no repeat of a “10-month relegation battle”, with winger Malcolm Ebiowei among the summer additions.
Exeter City (11/2)
Exeter are the newly-relegated side the market trusts least, and the finances explain it. The fan-owned club are making significant budget cuts, and seven experienced first-team players have gone, including captain Pierce Sweeney and Finland international Ilmari Niksanen. Matt Taylor, reappointed permanently in May after his interim spell, has said there will be no new signings unless players are sold first. A squad shorn of its leaders and unable to reinvest is a genuine risk, even at fourth-tier level.
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