The UEFA Champions League is back, with a brand new champion.
For years, the knock on PSG was that their dominance in Ligue 1 left them undercooked for Europe’s biggest nights. But that old storyline doesn’t hold water anymore.
2024/25 was their year — finally. From storming back to beat Manchester City 4-2 after trailing 2-0, to ousting Liverpool, Aston Villa, and Arsenal in a tough knockout run, Luis Enrique’s side proved last season they’ve got the steel to match the style. Their Champions League triumph was no fluke: it was earned.
But defending the crown is another beast entirely. With this season's competition already underway — the 2025/26 qualifiers begun on July 8 and we are now three matchdays into the league phase — the contenders are shaping up to seize the crown, but who has the quality to go all the way?
MORE: Latest Champions League News | Champions League standings 2025/26
Champions League 2025/26 betting odds
Here's the latest odds for the Champions League winners and other markets, courtesy of Bet365.
All odds are correct at time of publish, but subject to change — although check back regularly for updates as we track the market movers as the season progresses.
Champions League 2026 odds
Team | Odds |
Arsenal | 5/1 |
Paris Saint-Germain | 5/1 |
Barcelona | 7/1 |
Liverpool | 8/1 |
Bayern Munich | 8/1 |
Real Madrid | 9/1 |
Manchester City | 10/1 |
Chelsea | 20/1 |
Inter Milan | 28/1 |
Newcastle United | 35/1 |
Tottenham Hotspur | 40/1 |
Napoli | 50/1 |
More: 2025/26 Champions League draw - league phase fixtures
Champions League 2025/26 final odds
Team | Odds |
Paris Saint-Germain | 5/2 |
Arsenal | 11/4 |
Barcelona | 10/3 |
Liverpool | 4/1 |
Real Madrid | 4/1 |
Bayern Munich | 9/2 |
Manchester City | 5/1 |
Chelsea | 17/2 |
Inter Milan | 12/1 |
Newcastle | 16/1 |
Tottenham Hotspur | 20/1 |
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Nationality of CL 2025/26 winner
Here are the latest odds for this season's Champions League winning nationality.
Winning Team Nationality | Odds |
England | 11/10 |
Spain | 11/4 |
France | 4/1 |
Germany | 8/1 |
Italy | 14/1 |
Any other nation | 33/1 |
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UCL 2025/26 picks
Defending champions PSG, who won their first ever treble last season, have started their UEFA Champions League league phase campaign with three successive victories against Atalanta, Barcelona and Bayer Leverkusen; scoring 13 goals in the process.
Arsenal have leaped to being the leading contender from England with Mikel Arteta's side also having a 100% record after their 4-0 hammering of Atletico Madrid at the Emirates Stadium.
Barcelona would then be ranked in the top three most likely winners after an excellent season last year, which ended with semi-final elimination to Internazionale, but the Blaugrana haven't quite hit the heights of last year just yet.
Then you have a few of the other now 'legacy' clubs and winners of recent editions, Bayern Munich, Liverpool, Manchester City and Real Madrid in contention with Inter the likeliest winner from Italy.