Champions League predictions: Can Real Madrid win it all?

Real Madrid's kits feature a gold trim for a reason. The biggest club in the world has won the UEFA Champions League a record 14 times throughout its history. However, after a summer that saw the side undergo significant changes, there were questions surrounding Los Blancos' ability to compete for major honors.

Carlo Ancelotti's men earned a hard-fought 3-2 win in Naples on Tuesday in the Champions League to stay top of Group C. Real Madrid has now left it late against both Union Berlin and Napoli in the UCL.

How do oddsmakers view their chances to win the competition with this in mind?

Los Blancos (+650) currently have the third-shortest odds to win the 2023/24 UEFA Champions League, according to Caesars Sportsbook, the official odds partner of Bet.NOLA.com. Only last year's winner, Manchester City (+195), and German giant Bayern Munich (+500) have better odds.

Pedigree alone should be enough to earn Real Madrid a spot near the top of the oddsboards. Los Blancos have reached the semifinals of the prestigious club competition in 11 of the last 13 seasons. They've also lifted the UCL trophy five times in the last 13 years — Barcelona, Bayern Munich and Chelsea (two each) are the only clubs with more than one in that span.

Trends tend to favor Ancelotti's side, as well. Real Madrid is the only side to win back-to-back titles (2015-2018) since AC Milan in 1990. This spells bad news for the Citizens, who are the current betting favorites.

Los Blancos have the pedigree, the experience and trends favor them too. As if that wasn't reason enough to justify backing them to win the Champions League, let's discuss their squad situation and pathway.

Real Madrid got its toughest game of the group stage out of the way on Tuesday when it went to the Stadio Diego Armando Maradona and defeated Napoli. Pending some shocking developments, the squad from the Spanish capital should sit atop Group C after six contests.

This would give Los Blancos a favorable Round of 16 draw against a second-place finisher. Once the quarterfinals roll around, experience tends to be the biggest difference, and Real Madrid has plenty in its ranks.

Los Blancos have brought in some of the best young midfield talents in the world in Jude Bellingham, Eduardo Camavinga and Aurelien Tchouameni. However, veterans Toni Kroos and Luka Modric have still gotten plenty of minutes. They've proved to be the difference in many Champions League ties over the years, and there's no reason to believe that will change going forward.

Despite losing the club's second all-time leading goalscorer, Karim Benzema, in the summer, Ancelotti has still found ways to get goals from his team without a proper No. 9. A front three of Rodrygo, Vinicius Jr. and the aforementioned Bellingham are buzzing at the moment. The one concern will be the makeshift defense in front of the new addition in goal, Kepa Arrizabalaga, from Chelsea.

Nevertheless, there is excellent value in betting on Real Madrid to win the Champions League at +650 right now.