Champions League odds: Best bet, favorite, longshot for 2023-24 UCL title

The 2023-24 UEFA Champions League group stage is set after Thursday’s draw, placing all 32 teams into pods ahead of Matchday 1. Here’s a look at the updated title odds for the competition after the draw courtesy of DraftKings Sportsbook.

The favorite: Manchester City (+200)

Pep Guardiola’s side are favored to repeat as Champions League winners after capturing the club’s first trophy last year. They’ve shown no signs of slowing down and with the monkey finally off their back, there will be less pressure to perform. That might bring out the best in Man City, who are still loaded with talent headlined by Erling Haaland, Kevin De Bruyne, Bernardo Silva and Jack Grealish.

Other contenders: Bayern Munich (+500), Real Madrid (+800)

Bayern jumped up after landing Harry Kane late in the transfer window. The German giants have always been a tough out in this competition and now have one of the best strikers in the game in his prime. Real Madrid were unable to snag Kylian Mbappe and lost Karim Benzema to the Saudi Pro League, but they’re still expected to be contenders according to the oddsmakers. Arsenal (+1000), Barcelona (+1400) and Paris Saint-Germain (+1400) are other clubs who could make some noise, although PSG have historically not been good performers in this tournament.

Longshot bet: Napoli (+2500)

This is largely the same team that absolutely ran through Serie A and the group stage of the Champions League a season ago, headlined by striker Victor Osimhen and midfielder Andre-Frank Anguissa. Napoli lost a tough matchup against AC Milan in the quarterfinal round, but have brought back most of their key pieces. AC Milan (+3500) have the toughest group, so it’s hard to back them knowing there’s a strong chance they don’t make the knockout stage. Of the Italian clubs, Napoli and last year’s finalists Inter Milan (+2500) have the best paths. There’s too much turmoil at Inter right now, which makes Napoli the more attractive longshot bet.

Best bet: Bayern Munich (+500)

Man City did beat defending holders Real Madrid in a semifinal rematch last year, and took care of Bayern Munich in the quarterfinal round. They did nearly cough away the final against Inter, so there’s still some of that pressure surrounding Guardiola’s side. Bayern have improved with Kane on the front line, and he’s hungry for a Champions League crown. With Man City largely staying put and Real Madrid losing Benzema, Bayern offer the best value among the top contenders and have made the biggest improvement to their squad. Take the German club to win it all.