Champions League Odds 2023-24: Man City Still Big Favorites After Matchday 1

The 2022-23 UEFA Champions League Final ended with English giants Manchester City hoisting the trophy. Can Pep Guardiola's men repeat as champions following the club's first-ever Champions League triumph? Check out our best Champions League odds for the 2023-24 campaign.

Manchester City capped off another trophy-filled season with their first Champions League title in club history. As expected, they open as the favorites at our best sports betting apps to win this year's tournament.

Will City go back-to-back after falling just short for so many years, or will a juggernaut from Germany get redemption in 2024?

Here are our top Champions League Final from our best sports betting sites.

Champions League odds 2023-24

Champions League odds as of Thursday, Sept. 21

Check out our soccer best bets.

Champions League odds analysis

The first week of group-stage games are complete, and some of the teams on our oddsboard have been affected by the results.

All of our best sports betting sites offer Champions League odds, with the best prices fairly evenly distributed.

Those looking to back either of the two favorites should head to BetMGM, which offers  the best price on Manchester City, as well as the joint-best odds on Bayern Munich.

If you're looking to back one of the long shots, Caesars or FanDuel may be your better choices.

Champions League odds movement

Following the first group-stage matches, there was some significant movement among the losers for those games. Manchester United's and Newcastle's odds both lengthened following their results (United lost to Bayern and Newcastle drew AC Milan).

Meanwhile, Arsenal's odds shortened significantly following their dominant win against PSV. Each of the top six teams on our oddsboard emerged from Matchday 1 with three points.

Champions League odds 2023-24: Favorite

Manchester City (+220 via BetMGM)

Manchester City are off to a perfect start in the Premier League, and they remain the absolute cream of the crop in Europe. They dismantled Serbian side Crvena zvezda by a score of 3-1.

These odds at BetMGM offer bettors some added value on Manchester City, as they range from +190 to +200 at our other best sportsbooks.

Champions League odds 2023-24: Contender

Bayern Munich (+500)

Bayern looked a bit shaky in their win over United, but they managed to hold on for the 4-3 victory and three points.

The German juggernauts have the talent, history of success, and manager who's won this tournament as recently as 2021.

Champions League odds 2023-24: Long shot

Newcastle (+3500 via Caesars)

Newcastle's odds lengthened somewhat following their draw away to Milan. However, I think this is an opportunity to buy the Magpies at this more generous price.

As we've mentioned before, this style of tournament probably better favors Newcastle than the slog of a 38-match season does. They're strong at the back and can score timely goals. Don't be surprised to see this team frustrate other sides en route to a deep run, a la Atletico Madrid.

Champions League odds 2023-24: Fade

PSG (+1400 via bet365)

PSG dispatched of Dortmund in comfortable fashion on Matchday 1, but I'm still a skeptic. 

The club is still lacking star power outside of Kylian Mbappe, and combine that with the fact that PSG are known choke-artists, and I feel safe fading the French powerhouse until further notice.

Recent Champions League winners

Kentucky bettors: Sports betting is here!

Kentucky sports betting launched on Sept. 28 - so sign up with the best Kentucky sportsbook promos now! And check out our list of the best Kentucky sports betting apps!

21+ and present in KY. Gambling Problem? Call 1-800-GAMBLER

Soccer betting odds pages

Champions League FAQs

Who won the Champions League last year?

Manchester City won their first-ever Champions League title in 2023 after opening with odds of +300 and closing as roughly -600 favorites the day before the Final against Inter Milan.

When will the 2024 Champions League be decided?

The 2023-24 Champions League Final will be played on June 1, 2024.

Where will the 2024 Champions League final be played?

The Champions League Final will return to England's Wembley Stadium for the first time since 2013. This will be the third time the Final is played at the rebuilt Wembley, with the original stadium hosting the event five times.

Here are our best sports betting apps:

• Caesars Promo Code: SBRBONUS1000 | Read our Caesars Review
• BetMGM Bonus Code: SBRBONUS | Read our BetMGM Review
• bet365 Bonus Code: SBRBONUS | Read our bet365 Review
• BetRivers Promo Code: SBRBONUS | Read our BetRivers Review
• FanDuel Promo Code | Read our FanDuel Review
• DraftKings Promo Code | Read our DraftKings Review

(21+. Gambling Problem? Call 1-800-GAMBLER)
* Bonuses not applicable in Ontario.

Related pages

• Best Sports Betting Sites | Best Sportsbook Promos (U.S. only)