Champions League Odds 2023/24 - Real Madrid The New Favourites

In this post, we take a look at the Champions League odds 2023/24 where there is a familiar name at the top of the betting market.

Reigning Champions and previous tournament favourites Manchester City have been knocked out following their dramatic 4-3 penalty defeat against Real Madrid at the Quarter-Final stage.  Elsewhere second favourites Arsenal have crashed out against Bayern Munich 2-3 on aggregate. With wins for Borussia Dortmund over Atlético and PSG over Barcelona elsewhere the competition has been blown wide-open.

The Quarter-Final stage delivered four thrillers with 32 goals scored and and a dramatic penalty shoot-out too it's fair to say the competition is delivering in bringing competitive and entertaining matches, which is an exciting prospect ahead of the Semi-Finals and Final.

This post takes a look at who are the main contenders to land the 2023/24  Champions League

Champions League Odds 2023/24

Champions League 23/24 Betting Favourites

Real Madrid – 11/8

The new favourite for the 2023/24 Champions League are Real Madrid at odds of 11/8. Those odds imply that Real Madrid have a 42.1% chance of continuing their illustrious history in the competition and tag as "European Specialists".

The club lost some major names last summer including members of former Champions League winning squads with Marco Asensio, Karim Benzema, Mariano Diaz, and Eden Hazard all leaving. It had plenty of people pondering whether there was too much of an experience drain in the squad. However, they were aptly replaced by the likes of Arda Güler and the headliner Jude Bellingham who have made them even stronger this year currently leading La Liga by 8-points with 7 games remaining in their league season.

Real were rampant winners of Group C with a perfect 6 wins from 6 matches from their group with Napoli, Braga and Union Berlin scoring 16 goals and conceding 7in the process. They overcame Leipzig in the Round of 16 with a 0-1 first-leg win and a 1-1 second-leg draw. 

They played out a dramatic tie with Man City at the Quarter-Final stage, initially drawing 3-3 in Madrid for the first leg. Following that result many felt that City would make the most of home advantage and go through but after a 12th minute Rodrygo goal and De Bruyne equaliser on the 76th minute. They managed to hold on for penalties and win 4-3 to book their Semi-Final spot against Bayern.

Real are Champions League royalty and very worthy favourites.

PSG – 5/2

With the riches on offer accompanied by the genuine superstar talent that has played with PSG in recent seasons, they should have won at least one Champions League title, never mind multiple. However, in my opinion, an absence of the ability to recruit the "right" players rather than the "best" players has stopped them from troubling the European elite.

The story of their summer was the persistent speculation that Kylian Mbappé was Real Madrid bound which would've been a huge loss for the club which had recently lost Messi and Neymar. However, Mbappé remained and while his time with seems very much time-bound could he leave following a final PSG Champions League success?

PSG were landed in Champions League Group F which quickly became dubbed the "Group of Death" with Borussia Dortmund, Milan and Newcastle United. It turned out to be very much that with Dortmund leading the way with 11 points, PSG nabbed second spot ahead of Milan with 8 points on goal difference and Newcastle finished bottom with 5 points

At the Round of 16 stage, they defeated Real Sociedad 2-0 at home and 1-2 away from home to book their Quarter-Final spot, which proved to be Barcelona.  PSG in the first leg were beaten 2-3 by the Catalan outfit and it looked like an exit from Europe could be on the cards again. However, PSG put in a brilliant showing at the Nou Camp overcoming an early deficit on the night 1-0 to win 1-4 and book their Semi-Final spot against Dortmund.

PSG have gone under the radar until this stage, but now the expectation on them will be to reach the final which may not suit them but time will tell.

Bayern Munich – 11/4

The third favourite for the 2023/24 Champions League are Bayern Munich at odds of 11/4. Those odds imply that Bayern have a 26.7% chance of winning this season's competition.

Bayern Munich were the side I tipped to win the Champions League last season, but that prediction came unstuck at the quarter-final stage to eventual champions Man City, with their 3-0 first-leg defeat in Manchester too much to come back from as they crashed out of the competition 4-1 on aggregate.

Bayern seemingly went out and bought that missing piece of the jigsaw in Harry Kane during the summer for €100,000,000 it was clear they meant business for the 2023/24 season. However, that hasn't quite transpired in the league with Leverkusen confirmed as Bundesliga Champions last weekend. 

The Champions League has been a happier hunting ground for them though. Bayern won Group A against Copenhagen, Galatasaray and Man United with 16 points, 12 goals and 6 conceded. They then overcame A 1-0 first-leg defeat against Lazio to win 3-1 on aggregate.  Bayern booked their Semi-Final spot with a 2-2 draw at the Emirates before claiming the crucial win 1-0 at the Alianz Arena.

Their league challenge may have come unstuck, but the talent in their squad is well capable of landing a Champions League and if they overcome Real in the Semi I reckon they would.

Borussia Dortmund– 8/1

The fourth favourite for the 2023/24 Champions League are Borussia Dortmund at odds of 8/1. Those odds imply that Dortmund have a 11.1% chance of winning this season's competition.

Dortmund are currently 5th in the Bundesliga with 5 games remaining 7 points back of Bayern who are 2nd and a staggering 23 points back of 2023/24 Bundesliga Champions Leverkusen. It's fair to say that Dortmund haven't had one of their better seasons, but in recent times have improved in form winning 4 of their last 5 league matches, they may just be coming into form at a crucial stage in the Champions League.

Dortmund were landed in Champions League Group F which quickly became dubbed the "Group of Death" with PSG, Milan and Newcastle United. It turned out to be very much that in an extremely competitive group but Dortmund would win out with their 11 point total coming ahead of PSG, Milan and Newcastle. It was a sign of how dangerous they could be in cup competitions.

At the Round of 16 stage a 1-1 draw against PSV in Eindhoven and a 2-0 win in the second leg meant they booked their place in the Quarter-Final. Having been handed a tough draw against Atlético a 2-1 first leg defeat meant they had it all to do in the second leg. However, a brilliant performance meant they won 4-2 on the night and 5-4 on aggregate to book a date with PSG in the Semi-Final

Dortmund are outsiders for the tournament, but with that comes no pressure and they remain a dangerous outfit.

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