The Blues have been pushed out to 7/2 second-favourites, sitting ahead of Liverpool (5/1), Everton (6/1) and Man United (8/1) in the betting.
Ramsey, 27, has been at Arsenal for more than a decade and holds the distinction of scoring the winning goal in two FA Cup finals.
That means Ramsey, who has been at the club since 2008, is likely to leave on a free transfer at the end of the season.
A four-year agreement was in place but before a final contract was drawn up, the Gunners have reportedly ended talks. It is no secret that he wants to play in a central midfield role, but with Ozil considered the club's biggest asset after signing a new deal in January, it always seemed unlikely that he would get his way.
Speaking to BBC Sport, Lawrenson said: "I don't actually think much has changed about Arsenal under Emery - they are a good side, but they were a good side under Arsene Wenger, just not one of the best three teams in the country".
Father says search for missing son is "torture"
Maddox's parents have been notified. "Maddox's family has been interviewed and is working closely with us", Chief Helton said. Ritch spent some of Tuesday at the park with authorities retracing their steps, the Federal Bureau of Investigation said.
Emery was also asked about another midfielder, Mesut Ozil, and the question of the player's decision not to meet with Joachim Low when the Germany coach visited Arsenal's training ground this week.
'In the football years I know the same situation.
'Tomorrow I want, and we want, his best performance. "They are professionals for 10, 12 or 15 years, but not more".
Emery, who has led Arsenal to six straight wins in all competitions, also suggested he would not be dropping Ramsey due to the questions over his future.
Will they pay a fee in January or play the waiting game and leave Arsenal penniless come the end of the season.