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Champions League title odds: Manchester City favored to repeat ahead of round of 16 draw

Here are the latest Champions League title odds for the 2023-24 tournament.

Aston Villa v Manchester City - Premier League
Erling Haaland of Manchester City during the Premier League match between Aston Villa and Manchester City at Villa Park on December 06, 2023 in Birmingham, England.
Photo by James Gill - Danehouse/Getty Images

The Champions League round of 16 for the 2023-24 tournament is officially set, although we won’t know the matchups until the draw takes place on December 18. Here’s a look at the latest title odds for the competition courtesy of DraftKings Sportsbook.

Manchester City are the favorites to win the whole thing once again, going undefeated in the group stage. Bayern Munich are up next at +450, and had just one draw in the group stage. Real Madrid were also unbeaten in group stage play. These teams will not face each other in the round of 16.

It’s interesting to see Arsenal, a team that has never won the Champions League, come in after these powerhouse clubs. The Gunners do avoid all three heavyweights but still need to prove themselves in a knockout game to be taken seriously in this competition. Paris Saint-Germain have historically faltered in knockout games, so they are probably a team to avoid at +1400.

Of the longshots, Borussia Dortmund might be one team to look at. The Bundesliga side will avoid all the top clubs in the round of 16, and will eventually get better as key players come back from injury. The round of 16 will take place in February and March, so Dortmund should get those players back in time for the knockout stage. At +3500, Dortmund are worth a sprinkle.

These odds will be adjusted once we know the matchups after Monday’s draw, so it could be worth waiting to see those before making a futures wager.