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- Arsenal head the Champions League outright betting market at 5/2 ahead of the Round of 16.
- Real Madrid vs Manchester City headlines eight huge knockout ties this week.
- Liverpool, Bayern Munich and Barcelona all feature among the leading contenders.
Champions League Knockout Stage Begins This Week
The Champions League returns this week with the Round of 16 first legs and UK betting sites have released markets for all eight matches taking place across Tuesday and Wednesday.
Europe’s elite clubs now enter the knockout stage with the road to the final beginning to take shape.
Several heavyweight clashes headline the schedule, including Real Madrid vs Manchester City and Paris Saint-Germain vs Chelsea, while Liverpool travel to Istanbul to face Galatasaray.
Alongside the individual match betting markets, bet365 are also offering updated outright odds on who will lift the famous trophy at the end of the campaign.
With Arsenal currently leading the market and several high-profile clubs still in contention, this week’s results could play a major role in shaping the betting landscape.
Tuesday’s Champions League Matches and Odds
The opening night of Round of 16 action features four intriguing encounters across Europe.
| Match | Home | Draw | Away |
|---|---|---|---|
| Galatasaray vs Liverpool | 16/5 | 3/1 | 3/4 |
| Atalanta vs Bayern Munich | 4/1 | 7/2 | 3/5 |
| Atlético Madrid vs Tottenham | 8/15 | 16/5 | 5/1 |
| Newcastle vs Barcelona | 19/10 | 29/10 | 6/5 |
Liverpool are strong 3/4 favourites to secure a first-leg advantage away to Galatasaray in Istanbul, while Bayern Munich are also expected to take control of their tie against Atalanta at 3/5.
Perhaps the most intriguing match of the night takes place at St James’ Park, where Newcastle host Barcelona.
The odds suggest a tight contest with the Spanish giants slight favourites at 6/5, while Newcastle sit at 19/10 on home soil.
Wednesday’s Fixtures Feature Real Madrid vs Man City
Wednesday’s action includes one of the most anticipated ties of the entire round as Real Madrid host Manchester City at the Santiago Bernabéu.
| Match | Home | Draw | Away |
|---|---|---|---|
| Bayer Leverkusen vs Arsenal | 9/2 | 16/5 | 4/7 |
| Bodø/Glimt vs Sporting CP | 8/5 | 5/2 | 8/5 |
| PSG vs Chelsea | 17/20 | 14/5 | 29/10 |
| Real Madrid vs Manchester City | 5/2 | 11/4 | 1/1 |
Arsenal enter their tie against Bayer Leverkusen as strong 4/7 favourites, reflecting the impressive form that has also seen them installed as favourites in the outright market.
PSG are priced at 17/20 to defeat Chelsea in Paris, while the most evenly matched contest appears to be Bodø/Glimt vs Sporting CP, with both sides priced at 8/5.
Latest Champions League Outright Odds
Bet365 have also released updated prices on which team will go on to win the 2026 Champions League.
| Champions League Winner 2025/26 | Odds | Implied Probability |
|---|---|---|
| Arsenal | 5/2 | 28.6% |
| Bayern Munich | 11/2 | 15.4% |
| Barcelona | 6/1 | 14.3% |
| Manchester City | 8/1 | 11.1% |
| PSG | 10/1 | 9.1% |
| Liverpool | 10/1 | 9.1% |
| Real Madrid | 12/1 | 7.7% |
| Atletico Madrid | 20/1 | 4.8% |
| Chelsea | 25/1 | 3.8% |
Arsenal’s 5/2 price makes them the clear tournament favourites according to the latest market, with Bayern Munich and Barcelona next in the betting.
Manchester City sit at 8/1, while PSG and Liverpool are both priced at 10/1.
Real Madrid’s experience in the competition keeps them firmly in contention at 12/1, even with a difficult tie against City looming.
Where To Bet on the Champions League
For fans looking to back their selections this week, leading betting sites and bookmakers are offering extensive markets on every Champions League match.
Punters can also find promotions and free bets around the knockout rounds, particularly as interest increases during the latter stages of the tournament.
One notable promotion currently available from bet365 is the 2 Goals Ahead Early Payout Offer.
With this promotion, if the team you back to win goes two goals ahead at any point during the match, your bet is settled as a winner regardless of the final result.
The offer applies to single bets on the full-time result market and can also apply to selections within multiples and Bet Builder bets.
2 Goals Ahead Early Payout
Get your single bets paid out if the team you back goes 2 goals ahead - for multiple bets the selection will be marked as a winner with bet365. Applies to pre-match single and multiple bets on the standard Full Time Result market for applicable competitions. Only available to new and eligible customers. Bet restrictions and T&Cs apply. Registration required.
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