Champions League Winner Odds: Man City vs Real Madrid, Arsenal vs Bayern Munich in quarter-finals

 | March 15 | 

3 mins read

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The quarter-final draw for the Uefa Champions League has been completed and we’ve got some seismic ties to look ahead to. Current holders and last season’s treble winners Manchester City will take on 14-time winners Real Madrid, with the first leg at the Etihad Stadium, while Arsenal will host Harry Kane’s Bayern Munich at the Emirates, before taking a trip to Germany. 

Below we’ve looked at the new updated odds for Champions League glory, and plotted out each team’s route to the final. 

Champions League 2023/24 Winner Odds

  • Manchester City @ 7/4 
  • Arsenal @ 9/2
  • Real Madrid @ 11/2
  • Bayern Munich @ 13/2
  • PSG @ 9/1
  • Barcelona @ 10/1
  • Atletico Madrid @ 12/1
  • Borussia Dortmund @ 20/1

Manchester City remain the favourites to win the tournament at 7/4 but their odds have drifted since the draw was made. They face Jude Bellingham and Real Madrid in what is arguably the toughest draw they could have got on paper, and will now have to overcome the historic kings of Europe to taste glory in the competition for a second successive season. 

Pep Guardiola won’t be put off by this draw, but it is a mouthwatering prospect to look forward to. Carlo Ancelotti is one of the finest managers on the planet and with the talents of Bellingham, Vinicius Jr and Rodrygo at his disposal, they could knock out Man City. Whoever wins this tie will be the clear favourite to win the competition heading into the final four, with Los Blancos currently priced at 11/2 to lift their 15th European Cup.

The semi-final draw was also completed, meaning we now know that the winner of Man City vs Real Madrid will face the winner of Arsenal vs Bayern Munich. It means that we could see a sensational two-legged semi-final between two English teams also tussling for the Premier League title. 

Talking of that particular quarter-final, Harry Kane will return to England to take on his fiercest rivals. The Gunners have a tragic record in this competition against Bayern, having been knocked out of three last-16 ties in seven years by the German giants in the 2010s. The four strongest sides are all in one half of the draw, something that will not be repeated next year if Uefa bring in their proposed seeding system. 

Bayern are 13/2 to go all the way, while Arsenal are now the second-favourites to win their first Champions League title, at a price of 9/2. You can throw a blanket over Arsenal, Real Madrid and Bayern Munich’s odds, with Betfred clearly believing the winner of the competition will come from this half of the draw. 


It opens the door for value on the other half however. One of PSG, Barcelona, Borussia Dortmund and Atletico Madrid will be in the final, and they are a big price to win the competition. Out of the four, and up against a weak Barca outfit, you’d have to say PSG offer the best value at 9/1. With Kylian Mbappe, they have arguably the best player in the world, and there is the outside prospect that he could face Real Madrid in the Champions League final, before joining them this summer. 

Atletico Madrid take on Borussia Dortmund, as the two outsiders meet. Atleti in particular are an interesting one, having reached the final on three occasions, losing twice to fierce rivals Real Madrid in 2014 and 2016. However, Diego Simeone is a wonderful manager, especially in knockout football, and they should be able to bloody a few noses here. Having knocked last season’s finalists, Inter Milan, out on penalties, they might be able to go all the way. 12/1 on them to do so marks great value in my eyes. 

Champions League quarter-final draw

Arsenal vs Bayern Munich

Manchester City vs Real Madrid

PSG vs Barcelona

Atletico Madrid vs Borussia Dortmund


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