Keith Gillespie says the 2-0 defeat at Dungannon Swifts has left Glentoran with just a slim chance of retaining their Carling Premiership crown.
The Glens stay a point behind Linfield who now have three games in hand.
"As things stand, it will be a miracle if we win the league. It is as good as over for us now," said the former Northern Ireland winger.
"We will try to won our remaining games and see what happens - but it does not look good."
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Glentoran felt they were hard done by when they conceded a second penalty from which Dungannon took the lead in the second half.
Gillespie was critical of the quality of refereeing in the Irish League.
"The standard is not good and needs to improve," he said.
"The decisions referees are getting wrong are criminal at times."
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