The Champions League semifinal matchups are underway, and there is a new favorite among the Champions League odds.
After securing a 1-0 win away at the Emirates, Paris Saint-Germain is now the betting favorite to lift the trophy ahead of the return fixture next Wednesday.
In other, not-so-shocking news, Barcelona and Inter Milan played out a 3-3 thriller, which leaves that tie delicately poised heading back to Stadio Giuseppe Meazza.
Champions League odds
Odds as of 4-30
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Favorites to win the 2024-25 Champions League
Paris Saint-Germain
PSG can simply do no wrong against English opposition.
After knocking out Liverpool and Aston Villa in successive rounds, the Parisians went to London and handed Arsenal a 1-0 home defeat.
With a slender lead to take back to the Parc des Princes, PSG are now the betting favorites to lift the trophy at the end of May.
Barcelona
There is never a dull moment with Barcelona.
After going behind 2-0 after just 24 minutes, Barcelona fought back for a well-deserved 3-3 draw.
Lamine Yamal continues to turn heads, while Raphinha continues his Ballon d'Or worthy form.
With it all to play for in Milan on Tuesday, the Catalans will need to be at their very best defensively.
Inter Milan
If you offered Inter Milan a draw in the first leg, they would have taken it without blinking.
The way in which the draw was had, well, that would leave them a bit upset.
Twice throwing away leads, including a 2-0 advantage, Milan know they can ill afford any slip-ups next week, but they'll take confidence in the fact that they know they can trouble Barcelona's high line.
Arsenal
Some would call them unlucky to be trailing 1-0 heading into the second leg vs. PSG. But some would call it classic Arsenal.
No matter which side of the fence you are on, there's no denying that the Gunners are in tough to overturn this deficit and reach the final.
2024-25 Champions League semifinal matchups
| Matchup | First Leg | Second Leg |
|---|---|---|
| Arsenal vs. PSG | Arsenal 0 - 1 PSG | Wednesday, May 7 — 3:00 p.m. ET |
| Barcelona vs. Inter | Barcelona 3 - 3 Inter MIlan | Tuesday, May 6 — 3:00 p.m. ET |
2024-25 Champions League Format
The Champions League format we've all known to love is changing (perhaps for the better), so let's break it down:
- Instead of having 32 teams split into eight groups, there will now be one league that houses all 36 qualified teams.
- Each team will play eight games against randomly selected opponents (based on pot seedings) — four home and four away.
- Three points for a win, one point for a draw.
- The Top 8 teams on point total will qualify for the Round of 16, while the teams that finish between 9th and 24th will play a two-legged playoff with the winners securing their spot in the Round of 16.
- From there, the competition will continue as normal with a two-leg home and away fixture for each tie onwards until the Finals which is a winner-take-all match at a neutral venue.
The Champions League draw will take place on August 29, 2024, and the tournament will get underway on September 17, with the league portion wrapping up on January 29, 2025.
Past Champions League trends
To get ahead of the pack there are a few trends that may help you when choosing your Champions League winner:
- Spanish clubs have won the most combined Champions Leagues of any country, with Real Madrid winning 15 and Barcelona winning five.
- Italian club Juventus has been to nine finals — only to lose seven times.
- Six different English teams have won the tournament, the most from one country.
Past Champions League winners
| Team | Year |
|---|---|
 Real Madrid |
2024 |
 Manchester City |
2023 |
| Real Madrid |
2022 |
 Chelsea |
2021 |
 Bayern Munich |
2020 |
 Liverpool |
2019 |
| Real Madrid |
2018 |
| Real Madrid |
2017 |
| Real Madrid |
2016 |
| Barcelona |
2015 |
| Real Madrid |
2014 |
| Bayern Munich |
2013 |
| Chelsea |
2012 |
| Barcelona |
2011 |
| Inter |
2010 |
| Barcelona |
2009 |
 Manchester United |
2008 |
 Milan |
2007 |
| Barcelona |
2006 |
| Liverpool |
2005 |
| ⚽ Porto | 2004 |
| Milan |
2003 |
| Real Madrid |
2002 |
| Bayern Munich |
2001 |
Understanding Champions League odds
These odds are constantly adjusted throughout the summer as players get hurt, suspended or transfer. Once the season begins, title odds will change as teams win and lose games and as more players get hurt or are suspended. Sportsbooks will also adjust the Champions League odds based on handle and liability to certain teams.
Champions League odds will usually look like this:
- Bayern Munich +250
This means that on a $100 bet, you'll stand to win $250 if Bayern wins the Champions League. If it's close to the end of the tournament you might see that a team has a minus sign (-) ahead of its odds.
- Barcelona -120
This means that you would need to bet $120 to win $100 on a Barcelona championship.
Above we have posted the American odds for the Champions League. However, these are easy to convert to decimal odds or fractional odds with our odds converter tool.
Champions League Odds FAQs
Real Madrid won the Champions League in 2024, defeating Borussia Dortmund 2-0.
Real Madrid have won a record 15 Champions League titles, including six over the past 11 seasons.
Three teams lead the way as the playoff round ties are set with Liverpool (+394), Barcelona (+590) and Arsenal (+592) leading the way.
