Earlier this week, Bet Victor had Aston Villa in the mix at 6/1 to sign him, but the Villans are now co-favourites with Derby County to sign the 27-year-old, who earned a Premier League winners medal with the Foxes last term.
In fact, the Belgian defender, who spent the final three months of the season on loan at Middlesbrough, also won a Championship medal after helping Boro into top flight.
That was De Laet's second promotion in three short seasons after being an ever-present figure in the Leicester side which came up in the 2013-14 Championship season.
Boro are third favourites, with manager Aitor Karanka 4/1 to bring De Laet back to the Riverside, but he went seven straight games without playing under the Spaniard so it remains to be seen just how highly Karanka rates him.
Fulham are 6/1, while odds of 8/1 are offered on Norwich City swooping for the former Manchester United starlet, who was signed by Sir Alex Ferguson.
Aston Villa supporters would love to see better competition for the often-clumsy Alan Hutton in that right-back spot, and only time will tell if De Laet is the man favoured by Roberto Di Matteo.
Aston Villa's Alan Hutton in action with Newcastle's Paul Dummett