Mahrez has been one of the stars of the season for the Foxes, who are surprisingly sitting top of the Premier League table with six games to go.
The 25-year-old has scored 16 league goals and provided 11 assists, and is in contention to win a player of the season award.
As a result of his outstanding form, speculation regarding his future has been mounting, with The Mirror reporting this week that Mahrez is rated at £25 million by Leicester, with Manchester United and Tottenham leading the interested Premier League sides.
Ladbrokes suggest that Tottenham are the more likely buyers despite United's superior finances.
Dave Burin of Ladbrokes News said, via a press release: "Leicester may be in pole position in the title race but the betting suggests Mahrez could still jump ship to Spurs this summer. If he is to head abroad, Barcelona looks to be the most likely destination."
The odds of Tottenham signing Mahrez are listed as 7/2 favourites, with Manchester United second at 4/1. Barcelona are listed as 6/1, with Arsenal 8/1, Manchester City 10/1, PSG 12/1, and Real Madrid 16/1.