Odds to win the Champions League: Real Madrid has value to repeat
Real Madrid won the Champions League last year. Photo by Kirsty Wigglesworth/AP.

The Champions League round of 16 matchups are set and will begin in February.

The latest: Manchester City are favourites to win it all and have a relatively easy draw against RB Leipzig to begin the knockout rounds. Meanwhile, Real Madrid are once again being slept on and Bayern Munich and PSG are destined for an epic clash.

Here are the latest Champions League odds as of January 30.

Champions League odds

Check out the latest odds to win the Champions League. Click linked odds to add selection to betslip.

TeamOdds (Jan. 30)
Manchester City+180
Bayern Munich+700
Real Madrid+1,100
Inter Milan+2,800
AC Milan+5,000
Borussia Dortmund+5,500
Eintracht Frankfurt+10,000
RB Leipzig+12,500
Club Brugge+18,000

Odds as of 3:22 p.m. on 01/30/2023.

Best Champions League odds

The favourite: Manchester City (+180)

This is the one trophy that's eluded Manchester City during their decade-plus run of dominance.

City have won six Premierships, two FA Cups, six league cups and two community shields since 2010 but just can't get their hands on the European trophy.

Pep Guardiola's side has come devastatingly close, too.

They were in the final two years ago but lost a tightly contested match 1-0 to Chelsea. City appeared to be heading back to the final last year but gave up a late 5-3 aggregate lead in the semifinals to the eventual champions, Real Madrid.

This time around, the Sky Blues look hellbent on securing a trip to Istanbul. They went unbeaten in the group stage (4-2-0), had the third-highest goal differential (plus-12) and conceded the fewest goals (two).

Erling Haaland — Machester's marquee summer signing — has scored five goals through five games and could be the final piece to Guardiola's Champions League puzzle.

Other Champions League choices

Best value: Real Madrid (+1,100)

Real Madrid's title defence has started off well enough. The 14-time European champions went 4-1-1 in the group stage, scoring the third-most goals (15) of any team.

The Whites have won five of the last nine Champions League titles and hold value to extend their record this summer.

Vinicius Junior, Rodrygo and Karim Benzema form a deadly trio upfront, while Toni Kroos and Luka Modric remain among the world's best midfield tandems.

We've already seen how much of a game-changer Thibaut Courtois is in goal, too.

Madrid will have to get past Liverpool in the round of 16 which won't be a cakewalk. That said, we believe the Whites improved since then while the Reds have tapered off.

Liverpool are sixth in the Premiership (6-4-4) and lost offensive lynchpin Sadio Mane to Bayern Munich over the summer. Madrid, meanwhile, sit two points from the lead in La Liga and hold an 11-2-1 record.

Teams to watch: Bayern Munich (+700), PSG (+700)

We've got both eyes on this Bayern Munich vs. PSG round of 16 matchup.

These are two of the best clubs in Europe and whichever team advances will likely find itself in the final not too far down the road.

Bayern — who beat PSG in the 2019/20 Champions League final — sit atop the Bundesliga with 34 points and a ridiculous plus-36 goal differential. The next closest team by goal differential is RB Leipzig with a plus-nine mark.

PSG also doesn't skimp on star power.

A front three of Lionel Messi, Neymar and Kylian Mbappe is enough to give any team fits. PSG has put itself into favourable positions but hasn't been able to close.

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