Emery has come under increasing pressure this season winning just four of their opening 12 Premier League games.
After Pochettino’s shock departure the bookies have priced up the Gunners boss as 5/4 favourite to be sacked next.
Alex Apati of Ladbrokes said: “It looks as though it’ll be a busy few weeks of exits and arrivals in North London with Emery now clear favourite for the boot next.”
Southampton manager Ralph Hassenhuttl is the next favourite at 11/5 with Eddie Howe further back at 5/1.
Arsenal fans have become increasingly frustrated by Emery as they sit outside the top four despite poor starts from Manchester United and Tottenham.
Local rivals Spurs are only three points behind Arsenal but sit 14th in the Premier League table.
The surprise decision by Tottenham chairman Daniel Levy to part ways with Pochettino has increased speculation that the Arsenal hierarchy may axe Emery.
With speculation over the Spaniard’s future increasing, several names are being linked to the Arsenal job.
Mikel Arteta was interested in the job before Emery was appointed and may still be keen to take his first steps as a manager.
Another former player linked with the role was Arsenal’s current assistant first team coach Freddie Ljungberg.
The Swede played for the Gunners for almost a decade and made over 200 appearances for the north London side.
Massimilliano Allegri is a more experienced option for Arsenal after parting ways with Juventus last year.
The Italian was linked with the job before Emery was appointed and may be keen to take charge as he looks to get back into management.
Emery will look to silence critics with a victory against relegation threatened Southampton on Saturday.