The bookies rate the Iron as more likely than original hotly-tipped sides Doncaster, Hartlepool, Barnsley and Bournemouth.
Nottingham Forest are still placed at 7/1 third favourites, with Tranmere Rovers installed as 6/1 favourites to win the title, despite an indifferent start to the new campaign.
Current league leaders Brentford are 13/2 second favourites.
Striker Billy Sharp is now 14/1 fifth favourite to finish as league top scorer following an impressive start to life in Iron colours. The forward has netted three goals infive games and added a sharper cutting edge to the Iron attack.
The ex-Sheffield United man is rated more likely than more established names such as Lee Trundle, Darren Byfield, Marcus Stewart, Shaun Goater, and in-form Rotherham forward Deon Burton.
Barnsley's ex-Iron striker Paul Hayes has seen his odds fall from 12/1 to 20/1 after failing to find the net for five games.
The big favourites for the League One Golden Boot are Huddersfield's Pawel Abbot (5/1) and Bradford veteran Dean Windass (13/2).
Both have hit the ground running, with Abbott netting seven, and Windass scoring eight.