The 2025/26 EFL Cup got underway all the way back in late-July due to a re-jigged format as a result of nine Premier League teams qualifying for UEFA competition, thus requiring a preliminary round right at the start of the tournament.
The defending champions are Newcastle United, after the Magpies ended their 70-year trophy drought with a 2-1 defeat of Liverpool at Wembley Stadium in March.
This week sees the continuation of the third round, which has been split up as a result of the expanded league or group phases of UEFA competition from last season.
Nottingham Forest, one of those nine European qualifiers, suffered a surprise defeat to Swansea City last week, having led 2-0, last week. They have joined AFC Bournemouth, Aston Villa, Leeds United, Sunderland and Wolverhampton Wanderers as top-flight teams that have already been eliminated.
The Sporting News takes you through the favourites with the bookmakers for this season's Carabao Cup, as well as all the recent winners and key dates for the diary.
Carabao Cup 2025/26 odds
| Team | Odds |
|---|---|
| Liverpool | 5/1 |
| Manchester City | 6/1 |
| Arsenal | 7/1 |
| Chelsea | 8/1 |
| Newcastle United | 10/1 |
| Tottenham Hotspur | 11/1 |
| Crystal Palace | 12/1 |
| Brighton and Hove Albion | 16/1 |
Who are the favourites to win the Carabao Cup?
Last season's runners' up, Liverpool, are the favourites to win the Carabao Cup with Arne Slot's big spending Reds seeking to secure more silverware and fight on all four fronts after winning the Premier League last season.
They are the favourites to win the Premier League after five wins from five matches, leading the odds to win the Carabao Cup ahead of Manchester City, Arsenal and Chelsea.
Who won the Carabao Cup last year?
Newcastle United won the Carabao Cup last year with a 2-1 defeat of Liverpool in which Alexander Isak, who has now completed a £125 million move to Anfield, got on the scoresheet.
Newcastle's route to glory had seen them defeat Nottingham Forest on penalties in the second round before victories over AFC Wimbledon, Chelsea and then Brentford at St James' Park; then completing a 4-0 aggregate hammering of Arsenal in the semi-finals.
League Cup winners year by year (since 2011)
| Season | Winners | Runners' up |
|---|---|---|
| 2010/11 | Birmingham City | Arsenal |
| 2011/12 | Liverpool | Cardiff City |
| 2012/13 | Swansea City | Bradford City |
| 2013/14 | Manchester City | Sunderland |
| 2014/15 | Chelsea | Tottenham Hotspur |
| 2015/16 | Manchester City | Liverpool |
| 2016/17 | Manchester United | Southampton |
| 2017/18 | Manchester City | Arsenal |
| 2018/19 | Manchester City | Chelsea |
| 2019/20 | Manchester City | Aston Villa |
| 2020/21 | Manchester City | Tottenham Hotspur |
| 2021/22 | Liverpool | Chelsea |
| 2022/23 | Manchester United | Newcastle United |
| 2023/24 | Liverpool | Chelsea |
| 2024/25 | Newcastle United | Liverpool |
Season Dates & Schedule
| Round | Dates |
|---|---|
| Preliminary Round | 29th July - 5th August |
| First Round | 12th August - 19th August |
| Second Round | 26th August - 27th August |
| Third Round | 15th September - 23rd September |
| Fourth Round | 28th October - 29th October |
| Quarter-Finals | 17th December - 17th December |
| Semi-Finals | 13th January - 21st January |
| Final | 22nd March |