Champions League Odds & Favorites 2027: PSG Favorite Through Matchday 4
Matchday 4 is wrapped up, and two-time defending champion PSG (+360) has overtaken Barcelona (+420) on the odds board, becoming the favorite to complete the three-peat for the first time this season.
The Ligue 1 giants have won back-to-back titles and have won four straight games to open the league phase. Real Madrid (+700) is the only other team to avoid blemishes through four, and they come in tied for the fifth-shortest odds. Arsenal (3-1-0) and Bayern Munich (2-2-0) have avoided losses through their opening games and are priced as the third- and fourth-shortest at +600 and +700, respectively.
Sixteen national associations are represented in the league phase, with 36 teams competing over eight matchdays to determine the 24 that advance to the knockout phase.
Como, LASK, Sabah, and Viking are playing in the group stage/league phase for the first time. LASK (2-0-2), Sabah (1-0-3), and Viking (1-1-2) have all struggled in their opening games. Como, playing in European football for the first time ever, is 3-0-1 and sitting fourth.
Slavia Prague, Lille, and slovan Bratislava are all winless.
Champions League odds 2027
Live 2027 Champions League odds from the best sports betting apps.
Champions League schedule
Qualifying for the final spots in the Champions League runs from July 7 until August 26. Once the field is set, the tournament proper will run from September 8 until June 5, 2027.
League phase draw date: Aug. 27Matchday 1: Sept. 8-10Matchday 2: Oct. 13-14Matchday 3: Oct. 20-21Matchday 4: Nov. 3-4- Matchday 5: Nov. 24-25
- Matchday 6: Dec. 8-9
- Matchday 7: Jan. 19-20, 2027
- Matchday 8: Jan. 27, 2027
- Knockout phase playoffs draw: Jan. 29, 2027
- Knockout phase playoffs first leg: Feb. 16-17, 2027
- Knockout phase playoffs second leg: Feb. 23-24, 2027
- Knockout phase draw: Feb. 26, 2027
- Round of 16 first leg: March 9-10, 2027
- Round of 16 second leg: March 16-17, 2027
- Quarter-finals first leg: April 6-7, 2027
- Quarter-finals second leg: April 13-14, 2027
- Semi-finals first leg: April 27-28, 2027
- Semi-finals second leg: May 4-5, 2027
- Final: June 5, 2027
Champions League betting history
| Team | Year | Odds prior to Round of 16 |
|---|---|---|
| PSG | 2026 | +800 |
| PSG | 2025 | +1200 |
| Real Madrid | 2024 | +550 |
| Manchester City | 2023 | +185 |
| Real Madrid | 2022 | +1600 |
| Chelsea | 2021 | +1800 |
| Bayern Munich | 2020 | +650 |
| Liverpool | 2019 | +900 |
| Real Madrid | 2018 | +850 |
| Real Madrid | 2017 | +490 |
| Real Madrid | 2016 | +550 |
Champions League FAQs
Who is the favorite to win the Champions League in 2026-27?
Paris Saint-Germain is the favorite with +360 odds at FanDuel, implying a winning probability of 21.74%, via our odds calculator.
Who won the Champions League last year?
PSG won the Champions League title last year for the second consecutive year. They were +700 on June 2, prior to the start of the League Phase.
When will the 2027 Champions League be decided?
The 2027 Champions League Final will be played on Saturday, June 5, 2027.
Where will the 2027 Champions League final be played?
The Champions League Final will be played Metropolitano Stadium in Madrid, Spain.
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