David Beckham is poised to receive a knighthood in the New Year's Honours List, according to the Sun on Sunday.
It reports that final approval for the honour is due to be approved later this month.
Betting has now been suspended at Ladbrokes on the 38-year-old becoming a "Sir" next year.
Ladbrokes spokeswoman Jessica Bridge said: "It's always been a case of when and not if Beckham will be knighted, and after a flood of cash in the last 24 hours we've been forced to suspend betting on Sir David."
A Downing Street spokeswoman told ITV News there was no comment on the story.
Bookmakers have slashed the odds on David Beckham's son Brooklyn playing for Manchester United after the 14-year-old trained with the club yesterday.
Brooklyn is now priced at just 20/1 by Ladbrokes to follow in his father's footsteps.
David Beckham, who retired in May, was part of Manchester United's famous class of '92 and went on to make almost 400 appearances for the club winning six Premier League titles, two FA Cups and the Champions League.
Sir Alex Ferguson accused Beckham of becoming distracted by his celebrity lifestyle in his recently-released autobiography.
"It's funny, he was one of the first names I was going to call up to be manager. I'm not so sure now," the former England captain said.
Speaking at an exclusive global digital book signing on Facebook today, the 38-year-old insisted he did not want to speak negatively of his former manager:
"All joking aside I wouldn't want to be negative about Sir Alex. He gave me the chance to live my dream."
Beckham also revealed that after leaving Manchester United he could not face watching them play for two years.
David Beckham is going to start a Major League Soccer team in Miami, according to reports.
The former Manchester United and Real Madrid midfielder, who retired from football in May, is set to take up the option of becoming a team owner which was included in his contract when he signed for LA Galaxy in 2007, a source told The Associated Press.
Beckham will pay $25 million (£16 million) to start the Miami team, although the 38-year-old will still have to gain approval for his plans from the MLS.
Simon Fuller, the creator of American Idol and a prominent business partner of Beckham, will be a significant shareholder in the franchise.
Beckham is also looking for other investors to raise money to create a squad, build a stadium and pay for other set up costs.
David Beckham was reportedly unhurt after being involved in a car accident near his home in Los Angeles.
The former England captain's Range Rover was hit by another vehicle as he pulled out of his driveway in Beverley Hills on Friday, it emerged today.
Beckham's 14-year-old son Brooklyn, who was in the passenger seat, was also reportedly unharmed in the collision with a car driven by an unidentified woman. Both cars were said to have suffered minor damage.
It is the second time Beckham and his son have been involved in a car crash, following the pair's "lucky escape" after a multiple-car pile-up in LA in 2011.
A "think before you ink" vetting service has been launched by a university translator for people who want a tattoo of foreign words or symbols on their bodies but are wary of misspelt body art, according to The Times (£).
David Beckham and Britney Spears have been previous victims of the misspelt tattoo, with the football star having the word "Vihctoria" in Sanskrit inked on his forearm.
The US popstar wanted a Chinese symbol tattoo that meant "mysterious" but ended up with the word "strange".
Sharon Stephens, who set up Veritas Language Solutions, told the newspaper that one client turned up with a Chinese tattoo that said "sweet and sour chicken" instead of his request "live and let live".
She added that another example of a misspelt tattoo was a woman who wanted an "I love David" tattoo in Hebrew on her back but after using an internet translation tool she ended up with: "Babylon is the world’s leading dictionary and translation software".
Sir Alex Ferguson told Manchester United TV in a recent interview: "The problem with doing a book is you have to bring in the elements and factors which in many ways either affected or determined your management decision-making.
"Because I've been at the club such a long time and you're building team after team after team, there are areas that you can't ignore.
"Why we sold certain players like David Beckham and Ruud van Nistelrooy. You can't ignore these things because these guys were big, big figures in Manchester United's career history."
Malala Yousafzai, the Pakistani teenager shot in the head by the Taliban after campaigning for girls' education, has received a Daily Mirror Pride of Britain Award from David Beckham.
He told the 16-year-old: "You're an amazing young lady, a very special young lady, and your story has moved millions of people around the world.
"I'm so privileged and honoured to present this award to you."
Malala said: “It is such an honour to receive this award. It will help me continue my campaign.”
The Pride of Britain awards will be screened on ITV at 8pm on Tuesday
David Beckham attended the opening of the new London flagship store of British luxury clothing brand Belstaff House.
The opening of the store on New Bond Street coincides with London Fashion Week, where designers are showing off their Spring/Summer 2014 collections.
David Beckham has joined Prince William's campaign against illegal wildlife products.Read the full story ›