Champions League Odds & Favorites 2027: PSG Favorite to Threepeat
Qualifying is underway for some teams, but for many of the top contenders by the Champions League odds, this is the few weeks of the summer that their rosters get true rest between the World Cup and the start of their domestic seasons.
It's been just over 50 days since PSG toppled Arsenal on penalties to win a second-straight Champions League did, and the Ligue 1 side is the betting favorite to make it three straight. The competition proper is set to get underway on Sept. 8, with qualifying wrapping up on Aug. 26. Eighty-one teams from 53 associations will clash for the title in the 72nd season of Europe's top club tournament.
🏆 Champions League odds 2027
Odds via FanDuel, one of the best sports betting apps.
With the whole field remaining to be set, this is a look at the 10 teams with the shortest odds as of late July. Odds subject to change.
| Team | Odds | Implied probability | Profit ($10 bet) |
|---|---|---|---|
| Paris Saint-Germain (Ligue 1) | +500 | 16.67% | $50 |
| Arsenal (Premier League) | +650 | 13.33% | $65 |
| Bayern Munich (Bundesliga) | +650 | 13.33% | $65 |
| Manchester City (Premier League) | +750 | 11.76% | $75 |
| Barcelona (La Liga) | +750 | 11.76% | $75 |
| Real Madrid (La Liga) | +950 | 9.52% | $95 |
| Liverpool (Premier League) | +1000 | 9.09% | $100 |
| Manchester United (Premier League) | +1700 | 5.56% | $170 |
| Inter Milan (Serie A) | +2700 | 3.57% | $270 |
| Atletico Madrid (La Liga) | +3300 | 2.94% | $330 |
🗓️ 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. 27
- Matchday 1: Sept. 8-10
- Matchday 2: Oct. 13-14
- Matchday 3: Oct. 20-21
- Matchday 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?
Bayern Munich is the favorite with +450 odds at FanDuel, implying a winning probability of 18.18%, 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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