Champions League final odds: PSG favourites to win first European trophy

This year’s Champions League final takes place on Saturday 31 May at the Allianz Arena in Munich, Germany. The culmination of the biggest club tournament in world football will see France’s big spenders, Paris Saint-Germain, take on three-time Champions League winners Inter Milan. 

The winner takes a €25million first prize as well as the prestige of the trophy. PSG, who will be playing in their second Champions League final, having lost 2-1 to Bayern Munich in the 2019/20 tournament, are currently the 23/20 favourites with bookmakers. 

Love football? Find the best football betting sites and bet with welcome bonuses today.

This year’s final is a somewhat unusual encounter between French and Italian sides. The only other time clubs from the two nations have faced off in the final was in 1993 when Marseille beat AC Milan 1-0. That final also took place in Munich and the previous four encounters here have all resulted in first-time winners. 

PSG are the most successful club in French football, having lifted the Ligue 1 title an unprecedented 13 times. But, for all of their domestic success, the club have struggled in Europe. 

Luis Enrique, appointed in 2023, has overseen considerable changes to the squad, ditching many of their expensively paid players and encouraging team unity and a younger average player age. Enrique himself has winning experience, having led Barcelona to a Champions League win in 2015. 

Only six managers have won the competition with two different teams. Many critics point to the perceived lower quality of the French league as providing the greatest obstacle to PSG’s success. In reference to the league’s derogatory tag as being a farmer’s league, manager Enrique said: “The league of farmers, no? We are the league of farmers!”

Since Enrique took charge, PSG has gotten rid of Lionel Messi, Neymar, and Kylian Mbappe. Today’s PSG is a high-pressing, highly energetic, youthful team. While the onus is on teamwork, PSG still has some standout players, not least Ousmane Dembele, who is currently joint favourite, with 17-year-old Lamine Yamal, to win this year’s Ballon d’Or. 

The Frenchman will want to have an impact on this year’s final to help further bolster his chances of winning the accolade. PSG have dispatched Manchester City, Liverpool, Aston Villa, and Arsenal en route to the final.

Italian teams have endured similarly negative criticism to French teams, although they have historically enjoyed more success. Inter Milan alone have won the Champions League three times, but their last win came in 2010 when they were guided by Jose Mourinho. 

Under the stewardship of Simone Inzaghi, Inter’s most notable, and certainly most memorable, achievement was their incredible 7-6 victory over Barcelona. Inzaghi joined Inter in 2021 and has won the Serie A once in that time, while also reaching the Champions League final twice, in 2023 and 2025. Inter also knocked Bayern Munich out of the competition at the quarter-final stage and were only defeated once while finishing fourth in the league table phase of the competition. 

Theirs is an experienced side, with the midfield duo of Henrikh Mkhitaryan and Hakan Calhanoglu having a combined age of 67 years. Bookmakers give Inter Milan a price of 23/10 to overcome the French champions and win their third Champions League trophy.

Odds correct at time of writing.