Champions League latest odds: Who’s tipped for the final after last 16 draw?

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Friday’s Champions League draw has resulted in a major shakeup in the odds, with the bookies now backing an El Clasico final between Real Madrid and Barcelona. 

The holders Real are the favourites to win the competition at 10/3, despite facing a tough route through if they are to defend their crown. 

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Carlo Ancelotti’s side have been drawn against their city rivals Atletico Madrid in the round of 16 and are also on the same side of the draw as the likes of Arsenal, Liverpool and Paris Saint-Germain. 

Liverpool finished top in the league phase, but they have not been rewarded with an easy tie. 

The Reds will face the French champions PSG in the last-16, which has seen their odds drift out to 11/2.

Fellow Premier League club Aston Villa could be waiting for Liverpool in the quarter-finals, with the Villans having been drawn against Club Brugge. 

Villa are 33/1 to become the champions of Europe for the first time since 1982, though they will not be underestimating their Belgian opponents, who beat them back in November. 

Arsenal are also in the top half of the draw and will start as favourites against PSV, who knocked out Juventus during the play-off stage. 

The Gunners are now level in the odds with Liverpool at 11/2, but will face a difficult quarter-final match should they progress, against one of the giants from Madrid. 

In the bottom half of the draw, it is Barcelona who are favoured and have been installed as the 9/2 second favourites.

The Catalan club will face Benfica in the round of 16 and could then meet the winners of Borussia Dortmund’s tie with Lille. 

Should Barca progress to the semi-finals, they could meet one of the big boys from Germany or Italy. 

Bayern Munich are 7/1 to win, having been handed an all-German clash against the reigning Bundesliga champions Bayer Leverkusen, who are out at 33/1. 

The winner of that tie will face either Inter Milan or Feyenoord, with the Dutch side set for another trip to the San Siro, after beating AC Milan in the knockout phase play-offs. 

The round of 16 games will be played in March, with the first legs taking place on the 4th/5th and the second legs scheduled for the 11th/12th. 

Here are the revised odds for the 2024-25 Champions League from BetMGM, showing prices for each team to win the competition and to reach the final.  

Odds correct at the time of writing.