The Nice forward has failed to score a goal this term which has sparked speculation he could move in the January transfer window.
The Italian was being heavily with return to AC Milan but the move is believed to be off the cards after he accused some supporters of lacking respect.
This leaves West Ham as the favourites at 9/2 to sign the striker, who would return to England after spending five years in the Premier League with Manchester City and Liverpool.
Crystal Palace are next in the running at 6/1 ahead of a move back to Inter Milan.
Meanwhile the 28-year-old is also being linked with lucrative moves to either the US or China by the bookies.
Betfair: Balotelli's next club
Betfair's Katie Baylis said: “With Balotelli not impressed with the AC Milan fans, it’s hard to imagine he would return there any time soon.
"If he was to leave Nice and try another stint in England then West Ham are 9/2 favourites ahead of Palace at 6/1.
"We make it 10/1 he could go to Milan rivals Inter, with a move to the US also at 10/1 and China at 12/1.”
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