Joined on 20 goals a piece, it remains to be seen which player comes out on top this season, with the Norweigan looking to retain the prize for a second consecutive season.
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Haaland currently leads the way with popular bookmaker Betfair, priced at just 4/6 to win the award.
However, Palmer, who was staggeringly 20/1 on Monday, is now just 3/1 to pip his former City team-mate, after his four-goal tally against Everton at Stamford Bridge.
In what has been a terrific campaign for the Wythenshawe-born attacker, Palmer will be hoping to forge his way into Gareth Southgate's plans ahead of his final EURO 2024 squad selection deadline.
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"It all happened so fast in the first 30 minutes," Palmer began as he spoke following Chelsea's win over the Toffees.
"We started well and to score a hat-trick, I’m buzzing. I think the team needed that after last Sunday and some previous games. We did well tonight. It was a great game for the team and me.
"We needed to come out and show something and I think from the first minute we showed what we could do. It was a good performance tonight. We’re really happy with the win."
Cole Palmer's trademark celebration after scoring a penalty against Fulham. (Image credit: Getty Images)
Elsewhere with the bookies, Aston Villa striker Ollie Watkins still has an outside chance and is valued at 11/2 heading into the final month of the season.
With 19 goals to his name, the former Brentford man has been exceptional once again for Unai Emery's men and will also hope to secure his place in England's 26-man squad come the summer.
Mohamed Salah and Alexander Isak both have 17 strikes and are given odds of 12/1 to make a late flurry and claim the Golden Boot accolade.
Bio: Matthew is a freelance journalist and has currently racked up bylines for Manchester United, Manchester Evening News, GOAL and SPORTbible to name a few. A long-term sufferer of Scunthorpe United, he currently resides in the north-west after escaping the smog of North Lincolnshire.
