2023-24 Champions League Odds: Man City, Real Madrid Favorites to Win

The UEFA Champions League is down to the last eight clubs for the 2023-24 season: Arsenal, Atletico Madrid, Barcelona, Bayern Munich, Borussia Dortmund, Manchester City, Paris Saint-Germain and Real Madrid.

Defending champions Manchester City are favored and could become the first side to repeat since the 2017-18 season. Real Madrid were the champions then and the all-time winners, 14 times, are next in the latest odds and team futures, but the rest of the field has credible arguments.

Fans can place various futures bets on the world’s top club soccer tournament, including odds to win, odds to make the final, and top goalscorer. There are also individual match odds.

The 2024 UEFA Champions League Final will be disputed on June 1 at Wembley Stadium in London, England. If you think one of the underdogs will go all the way this year, the window to bet is closing with each round.

Odds to Win 2023-24 UEFA Champions League

UEFA Champions League odds are available for the 2023-24 season at the best soccer betting apps, including BetMGM and Caesars with Manchester City, the reigning champions, as the odds-on favorites to repeat.

UEFA Champions League Betting Favorites

Defending champions Manchester City are favored to win followed by record 14-time winners Real Madrid.

Manchester City

Manchester City features stars who led it to its first UEFA Champions League crown: Erling Haaland, Kevin De Bruyne, Julian Alvarez, and Phil Foden. The team’s mastermind, perhaps the world’s best soccer coach, Pep Guardiola, remains on the sidelines for another advantage.

The Citizens are undefeated in UCL matches this season after going 6-0-0 in the group stage, winning their Round of 16 encounters and tying 3-3 against Real Madrid in the Spanish capital in the first leg of their quarterfinals series.

Real Madrid

Real Madrid, the all-time leader in winning the competition, always has a chance. The Merengues are experts in hoisting the trophy and won it in one of its most unpredictable seasons two years ago. With Jude Bellingham and Vinicius Jr. in attack, don’t count out this team from winning it again under experienced manager Carlo Ancelotti.

The Spanish giants also went 6-0-0 in the group stage and have yet to lose in this season’s tournament. They also have a strong lead in La Liga, an eight-point lead over rivals Barcelona, to go with their UCL hopes.

Bayern Munich

Bayern Munich has always been a favorite due to its historical dominance in the Bundesliga. They’re not at the top of their league currently, with the rise of Bayer Leverkusen, but that could factor into the Bavarians focusing more on the Champions League. If Harry Kane, Thomas Muller, and Leroy Sané get hot at the right time, Bayern may become European champions. The Germans left London with a 2-2 draw at Arsenal in the first leg of the quarterfinals and are favored to win the return leg at home.

UEFA Champions League Value Picks and Longshots


Arsenal are among the favorites with the oddsmakers despite never winning the competition. The club’s current rise under manager Mikel Arteta has fans dreaming of winning the Premier League and going on a title run in the UEFA Champions League.

With young stars such as Gabriel Martinelli, Bukayo Saka, Declan Rice, and Martin Odegaard, the Gunners certainly have the talent to pull off something special if they can catch lightning in a bottle. They’ve staved off elimination in the Round of 16 against Porto and are tied with Bayern Munich in the quarterfinals, so perhaps there is something brewing.

Paris Saint-Germain

Kylian Mbappe is a big reason, and perhaps the only reason, PSG is considered a viable contender. The knock on the French side is that they can’t get over the hump, even losing the 2020 final when they finally made it with Neymar. The club has since acquired and lost Messi, so the “super squad” direction did not work in their favor.

This season is reportedly the last for Mbappe as reports have him joining Real Madrid in the summer. The club lost 3-2 in the quarterfinals first leg against FC Barcelona and must get an away win in Spain to advance.

FC Barcelona

When you start to explore the field, the teams most likely to win are clubs that are used to winning it before. With Robert Lewandowski in the attack and a former UCL winner on the sidelines with manager Xavi, Barcelona has elements of a team that can go on a surprise run. Barça isn’t the slam-dunk pick they’ve been in the past but has the elements to emerge as a dark horse. With a 3-2 lead over PSG, they may be putting a championship run together.

Atlético Madrid

Atletico Madrid has reached a UCL final under manager Diego Simeone and may have a squad for another run. Antoine Griezmann looks to have regained some of his best form, and the Red and White are having a notable year after beating Madrid in league and cup play. The Colchoneros started the quarterfinals with a dominant display in a 2-1 win over Borussia Dortmund. The Spanish side still has to complete the second leg in Germany. If they go through, whomever they get next will not be excited to face them.


Borussia Dortmund isn’t having as good a season as in recent years. However, they’re still a top European side and demonstrated that by surviving a group that contained PSG, AC Milan, and Newcastle. A favorable Round of 16 against PSV has seen them through the elite eight, and they have nothing to lose the rest of the way. English winger Jadon Sancho is capable of the spectacular on the right day. Down by only one goal, a home win would help them at least force extra time, if not get through to the next round.

UCL Odds: Who Will Win the Golden Boot?

Erling Haaland won the Golden Boot with 12 goals the previous season. The 23-year-old phenom is the odds-on favorite to repeat as the primary striker at Manchester City.

Bayern Munich striker Harry Kane is in the pole position with 7 goals. Haaland, Atletico Madrid forward Antoine Griezmann, and PSG superstar Kylian Mbappé are next in the race with 6 goals each.

Following on the heels with five goals, and still alive in the competition, are Manchester City’s Julián Álvarez and Phil Foden, with Atletico Madrid’s Alvaro Morata rounding out the top eight. Arsenal men Gabriel Jesus and Bukayo Saka, and Real Madrid duo Jude Bellingham and Rodrygo follow with four goals apiece.

Vinicius Junior fans may see him as a bargain. The Real Madrid star is on the list with three goals but is very capable of going on a run to the top.

UEFA Champions League Match Odds

Odds are available for the UEFA Champions League like for other sports: spread, moneyline, and Over/Under on total goals. The three-way moneyline is the most common way to bet in soccer, where you put a wager on either team winning or a draw.


UCL Scores

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Best Welcome Bonuses for UEFA Champions League Betting

There are several sportsbook welcome offers to choose from to bet on the UEFA Champions League. Here are some of the current best offers on the market:

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How to Bet on the UEFA Champions League

Betting on the UEFA Champions League is as easy as ever with the growth and accessibility of legal online sports betting. Follow the steps below to get started with some can’t-miss offers!


Choose a Sportsbook

The first step to betting on the UEFA Champions League is choosing a sportsbook from the list above. We recommend signing up for more than one to find the one best for you. Make sure to look at the welcome offer associated with each sportsbook when making the choice!


Sign Up With A Promo Code or Link

Sign up for the sportsbook of your choice and don’t forget to use a Gaming Today promo code or promo link to secure a welcome bonus offer. When going through the signup process, new users will be asked to provide personal information like the last four of their social security, address, and age verification.


Make Your First Deposit

Once the sportsbook verifies your account details, you can deposit funds to start betting. Some Bonus offers will require you to make a minimum deposit for the promotion to be activated on your account, so make sure to pay attention to what that number is but a deposit of $10 should be a safe bet to redeem most offers. Some of the most reliable deposit methods include PayPal, Play+, debit/credit cards, and ACH/eCheck.


Place Your First Bet

UEFA Champions League matches can be played mostly on Tuesdays and Wednesdays, except for the final which takes place on a Saturday. Place the wager once you have found the game you would like to bet on! Keep in mind that many welcome bonuses at sportsbooks are only associated with the first wager, so choose the amount and odds wisely!


Cash Out

If your UEFA Champions League bet cashes in, congratulations! You can reinvest your winnings into other bets, but if you are ready to cash out, all sportsbooks will offer you several different options. PayPal, ACH/eCheck, and Play+ represent some of the fastest ways to cash out when your UCL wagers win.

What Kind of UEFA Champions League Bets Can You Make?

Futures: When you bet on who you think will finish as the UEFA Champions League winner, it is called a futures bet. This is a wager on the long-term outcome of the UEFA Champions League. You can also bet on other scenarios like who you think will reach the final, not necessarily committing to a team winning it all.

Other futures bets include selecting a group winner or a team you think will advance as one of the top two in its group. You can also bet on individual awards, including the Golden Boot or which player will end the season with the most assists.

Props: You can wager on the number of goals a particular player will score in a game (Over/Under), or the number of goals a team will make as a collective (Over/Under). You can also go more specific like betting the O/U on the first half or how many corners a team will earn, which team you think will score first or last, and more. These are called prop bets.

Game Bet: You can bet on individual games with a spread (you either get or give a goal) and the total number of goals scored (Over/Under). Moneyline bets are most common in soccer, allowing bettors to pick the winner of any game or a draw in regulation.

Parlays: Parlay bets offer multiple wagers on the same ticket. A bettor can select a team to win, a player to score, and an Over/Under for goals. You can also bet on the outcome of several games, like three group-stage games in one. The payout odds increase with each bet, but all of your parlay bets (legs) must be correct for your bet slip to win. If you get one wrong, you lose the parlay.

Additional Soccer Betting Odds

UEFA Champions League Odds FAQ

Who is favored to win the UEFA Champions League?

Defending champions Manchester City are favorited to win the 2023-24 UEFA Champions League with a current price of .

How do I bet on UEFA Champions League?

Betting on the UEFA Champions League can be done at the best soccer betting apps, like BetMGM Sportsbook and Caesars Sportsbook, in any of the states where sports betting has been legalized.

What are the odds to win the 2023-24 Champions League?

Manchester City is the odds-on-favorite to win the 2024 UEFA Champions League, followed by traditional powers like Real Madrid and Bayern Munich.

Why are Man City Favorites for Champions League?

Manchester City are favorites to win the 2024 UEFA Champions League because the first team features many of the same players that helped it to a treble last season, like Erling Haaland, Julian Alvarez, and Phil Foden. The team is coached by one of the world’s top managers, Pep Guardiola.

The Citizens also have a favorable group with the likes of RB Leipzig, Red Star Belgrade, and BSC Young Boys – all clubs the EPL champs are expected to beat. The defending champs are all but a lock to be in the knockout stage and go for a repeat.

Is Champions League on DraftKings?

Online sports betting on the UEFA Champions League is available among several top sportsbooks like DraftKings Sportsbook.

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What decides the Champions League group stage?

The UEFA Champions League group stage features 32 teams divided into groups of four. The top two teams in each group move on to the knockout stage. The third-place teams are relegated to the UEFA Europa League knockout stage. Fourth-place teams are eliminated and must qualify for the next season, usually by winning their domestic league.

What dates are the Champions League knockout games?

The dates for the UEFA Champions Knockout Rounds are as follows:

  • Round of 16: February 13, 14, 20, 21, and March 5, 6, 12, 13
  • Quarter-finals: April 9, 10, and 16, 17
  • Semi-finals: April 30, May 1, and May 7, 8
  • Final: June 1
When and where is the 2024 UEFA Champions League Final?

The 2023-24 UEFA Champions League Final will be contested on June 1 at Wembley Stadium in London, United Kingdom.

About the Author
Victor Araiza

Victor Araiza

Victor Araiza is a sports betting writer at Gaming Today. A sports journalist specializing in soccer, Araiza has written for The Associated Press, Concacaf, MLSsoccer.com, and several independent outlets. He is an active member of the North American Soccer Reporters (NASR).

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