As the Champions League kicks off for another year, the bookies have already picked out their favourites. Our odds tracker shows who is on course to claim Europe’s most illustrious prize and how the odds have fluctuated over time.
We also track the following betting markets – take a look to see current odds and trends over time:
- Ballon d’Or Winner Odds Tracker
- Premier League 2021/22 Winner Odds
- NBA – Championship Winner Odds
- F1 World Championship Odds
- Next James Bond Odds Tracker
- Next UK Prime Minister Odds Tracker
Champions League Winner – Latest Odds Impacting Odds & Favourites:
- 14th April – Manchester City and Liverpool’s implied probabilities surge significantly as they both make it to the semi-finals. City saw off a feisty Atletico Madrid, while Liverpool kept a spirited Benfica at bay. Villarreal sealed the shock of the quarter-finals by beating Bayern Munich to set up a semi with Liverpool, while Real Madrid won a classic in London, beating reigning champions Chelsea and will face Manchester City in the next round.
- 7th April – Liverpool and Manchester City remain neck and neck after they both win their semi-final first legs. Bayern’s odds plummet after they lose away to Villarreal, while Real Madrid’s implied probability surges after their impressive 3-1 away win over reigning champions, Chelsea.
- 18th March – Following the announcement of the quarter and semi-final draws, Liverpool’s implied probability surges by 6.09% as they draw Benfica in the quarters and either Bayern Munich or Villarreal in the semis. Chelsea and Real Madrid’s odds lengthen as they draw each other in the quarters and either Manchester City of Atletico Madrid in the semis. Manchester City’s steady progression continues as their implied probability increases to 34.32%.
- 17th March – After the final round of Last-16 second legs, Atletico Madrid receive a healthy boost as they knock out a lacklustre Manchester United at Old Trafford. Dark horses, Ajax, are stunned by Benfica as the Portuguese side win 3-2 on aggregate. The story of the round, however, is Villarreal’s astonishing 3-0 away victory over Juventus which sees them make their first UCL quarter-finals appearance since 2009. Reigning champions Chelsea also secured progress to the final eight by beating Lille 2-1 away from home.
- 10th March – After the first round of Last-16 second legs, Liverpool lose at home for the first time in over a year, but beat Inter on aggregate to progress to the quarters. A Karim Benzema hat-trick sees Real Madrid come from behind on the night and on aggregate to knockout PSG. Bayern thump RB Salzburg 7-1 in Munich, while City progress despite drawing 0-0 with Sporting Lisbon.
- 24th February – Atletico Madrid are held to a 1-1 draw in dramatic style by Manchester United in the second round of Last-16 first legs. Benfica and Ajax play out an entertaining 2-2 draw, Villarreal v Juventus ends in a 1-1 stalemate. Chelsea are the only team to win this gameweek, beating Lille 2-0 at Stamford Bridge.
- 17th February – After the first round of Last 16 first legs, Manchester City consolidate their position as tournament favourites by thumping Sporting Lisbon 5-0 in Portugal. Liverpool move up to second favourite, their highest position since the end of September, after beating Inter 2-0 at the San Siro. Bayern Munich slip slightly after being held to a 1-1 draw by RB Salzburg, while PSG move above Chelsea following Kylian Mbappe’s dramatic late winner against Real Madrid.
- 13th December – City remain firm favourites after drawing Sporting Lisbon in the Round of 16. Chelsea’s odds are boosted as they draw Lille, while PSG slump after they are drawn against Real Madrid.
- 10th December – Manchester City finish top of their group despite a loss to RB Leipzig, while Liverpool beat a beleaguered AC Milan to end the group stage with six wins out of six. Chelsea’s 3-3 draw with Zenit St Petersburg sees them qualify in second behind Juventus.
- 25th November – City open up a 3.97% lead over Bayern following their statement 2-1 win over PSG. Liverpool overtake PSG as third-favourites as they beat Porto 2-0 at Anfield to retain their 100% start to the group stage.
- 4th November – City and Bayern are neck and neck favourites following their respective wins over Club Brugge and Benfica. PSG’s odds continue to lengthen as they draw to RB Leipzig.
- 21st October – Manchester City return as favourites to win the Champions League after their resounding 5-1 win away to Club Brugge. PSG slip down to third-favourites after their tight 3-2 win against RB Leipzig.
- 30th September – Manchester City and PSG swap places as tournament favourites as Messi’s first goal for his new club helps the Parisians to a 2-0 victory over Guardiola’s men. Munich’s odds continue to shorten following their 5-0 trouncing of Dynamo Kyiv.
- 16th September – Pre-tournament favourites, PSG, drop into second place following a dreary 1-1 draw against Club Brugge. Manchester City take the top spot as they beat RB Leipzig in a thrilling 6-3 showdown, while Bayern Munich’s odds shorten after beating Barcelona 3-0 at the Camp Nou.
- 25th August – Prior to the group stage draw, PSG have emerged as bookies’ favourites, closely followed by Manchester City. Both teams have featured in Champions League finals within the last two years and are aiming to lift the trophy for the first time. 2019/20 champions Bayern Munich, holders Chelsea and 2018/19 champions Liverpool follow.
We monitor trends in odds on key markets of interest by tracking a range of UK and international bookmakers. The update frequency varies, but is clearly shown on all our tables and charts. After fetching odds direct from bookies, we convert them to implied probability to make them easier to manage (read more on implied probability and converting from fractional to % probability). We then take the mean average implied probability to get a consensus view across the betting industry. This average implied probability is what we show on our charts and tables.