Champions League winner odds 2026/27: Predictions and tips as PSG chase a Real Madrid record

THE Champions League winner odds will once again attract plenty of attention, with Europe’s biggest clubs battling it out for the biggest prize in European football. PSG are the defending champions after beating Arsenal on penalties in Budapest in May. Luis Enrique’s side became only the second club in the Champions League era to win the trophy in back-to-back seasons, following Real Madrid’s three-peat between 2016 and 2018. Now, PSG have the chance to equal that record. The 2026/27 campaign will also run on a later-than-usual calendar after the World Cup, while the competition continues to use the now-established league phase format, now in its third year. The final will take place at Atletico Madrid’s Metropolitano on June 5, 2027. PSG lead the market, but Arsenal, Bayern Munich, Barcelona, Manchester City and Real Madrid are all in the mix. Nearly all have bolstered their ranks this summer, with Real Madrid undergoing the biggest transformation under Jose Mourinho and spending around £165million on new recruits. Quick tips for the 2026/27 Champions League winner Get PSG to reach the final – 3/1 with bet365 A Spanish team to win the Champions League – 9/4 with bet365 Inter Milan each way – 28/1 with Betfred ⬆️ Latest Champions League winner odds Here are the latest betting odds for the Champions League winner market. 🤔 How the Champions League format works A quick refresher. The Champions League format was revamped in 2024/25, replacing the old group stage with a 36-team league phase. Each club plays eight different opponents, with four games at home and four away. The league phase runs from September through January. The top eight go straight through to the last 16, while teams finishing ninth to 24th enter a two-legged knockout play-off in February for the other eight places. The bottom 12 are eliminated completely, with no Europa League parachute. From the last 16 onwards, the familiar format returns. The last 16, quarter-finals and semi-finals are played over two legs, before the competition culminates in a one-off final. 🏆 The defending champions: Paris Saint-Germain PSG retained the trophy by beating Arsenal 4-3 on penalties after a 1-1 draw in extra time in Budapest. It was their second European Cup in a row under Luis Enrique, following a 5-0 demolition of Inter Milan in the 2024/25 final. Only Real Madrid have won the competition three years running since its rebrand in 1992/93, doing so between 2016 and 2018. That’s the obvious story of PSG’s season, and I like their chances of pulling it off. Luis Enrique knows how to win this competition and, more importantly, seems to have a knack for getting his sides to peak at exactly the right time. PSG haven’t ripped up a squad that has just won the Champions League twice. They’ve simply added to an already stacked group, with Maghnes Akliouche and Mika Godts joining, while World Cup winner Ferran Torres replaces Goncalo Ramos, who left for AC Milan after starting just 14 Ligue 1 games last season. I think 5/1 is a good price for the defending champions, who have arguably the best squad in the competition and a manager who can deliver on the biggest stage. There’s also something to be said for the less strenuous league campaign compared to their UCL rivals, with PSG having won Ligue 1 five years on the bounce. ⭐ The Premier League’s five England has five clubs in this season’s league phase, with Arsenal, Manchester City, Manchester United, Liverpool and Aston Villa all involved. Chelsea, winners in 2021, missed out on European football altogether. Let’s take a closer look at each of England’s challengers and their chances of going all the way. Arsenal Arsenal came agonisingly close last season, losing the Champions League final to PSG on penalties. It was their first appearance in the final since 2006, and history suggests going one better isn’t easy, with only three teams since 1990 having lost the final and then won the competition the following season. They also enjoyed a relatively kind route to the final, beating Sporting Lisbon and Atletico Madrid in the knockout rounds. They may not get that luxury again, and balancing the Premier League charge with a Champions League challenge could be infinitely more difficult with a tougher draw. I’ll pass at 13/2. ⚽ Back Arsenal to win the Champions League at 13/2 with BoyleSports ⚽ Manchester City Where to start with Manchester City following their deeply concerning Community Shield defeat to Arsenal? They shipped three goals without scoring, while Rodri has now left the building, and Pep Guardiola is no longer around to pick up the pieces. Enzo Maresca won the Conference League with Chelsea in 2024/25, but his Champions League record is middling, winning three of his six games with Chelsea last season before his departure. Pep also won the Champions League just once during his decade-long City tenure, so it’s tough to see Maresca matching that on his debut campaign, particularly with first-team stalwarts such as John Stones, Bernardo Silva and Rodri exiting. Liverpool Priced at 10/1, the bookmakers aren’t totally enamoured with Liverpool’s chances of lifting the Champions League trophy. The Reds are clearly a side in transition after the departures of Mohamed Salah, Andy Robertson and Ibrahima Konate, while their new additions will inevitably take time to adapt. Another issue is the complete shift in approach under new manager Andoni Iraola, whose European experience is limited to 12 Europa League games with AEK Larnaca. Liverpool have the talent and pedigree to go deep, but 10/1 doesn’t tempt me given the amount of change afoot at Anfield. ⚽ Bet Liverpool to go all the way at 10/1 with Betway ⚽ Manchester United All kinds of no from me. Manchester United are back in the competition for the first time since 2023/24, but I don’t see a squad deep enough to handle both the Premier League and Champions League. Only two new significant additions have arrived so far, so there’s still plenty of work to do before the transfer window closes on September 1. The jury is also still out on Michael Carrick, and things will feel different now he’s got the job on a full-time basis. I just think United are light for this level without the star power of Bayern Munich, Real Madrid or PSG, and 16/1 simply isn’t rewarding enough for me to take the chance. ⚽ Back Manchester United to lift the trophy at 16/1 with bet365 ⚽ Aston Villa I do like Aston Villa this season, and their run to the quarter-finals in 2024/25 showed they can cause problems in this competition. The arrivals of Johan Manzambi, Joao Gomes and Alejandro Garnacho should be enough to offset the departures of Morgan Rogers and Youri Tielemans. But while I can see Villa making another plucky run into the latter stages, I don’t see enough to suggest they’re genuine winners. They’re an awkward opponent for anyone on their day – PSG can attest to that in their recent Super Cup clash – but the jump from Europa League winners to champions of Europe is enormous. 💪 Europe’s other heavyweights Here’s how I predict the remainder of Europe’s heavyweight clubs to fare in the 2026-27 Champions League. Real Madrid Jose Mourinho back in the big time with a quality squad that’s been strengthened in several key areas over the summer? Sign me up! The £120m signing of Yan Diomande is the headline-grabber, while Marc Cucurella, Bernardo Silva, Denzel Dumfries and Ibrahima Konate offer solid streetwise experience at the very top level. Add in Jude Bellingham and Kylian Mbappe, two of the standout performers at the summer’s World Cup, and there’s a lot to like. The club went from an extraordinary 2024, capped by the Champions League title, to two consecutive seasons without lifting a trophy. OK, there are certainly more questions than answers under Mourinho and things could get chaotic, but he’s won the Champions League twice, Real are the competition’s record 15-time winners and I’m absolutely here for the ride at 7/1. ⚽ Choose Real Madrid for the 16th time at 7/1 with Betfred ⚽ Barcelona Barcelona could be onto something in Europe this season. Rodri is a huge addition in midfield after winning the World Cup Golden Ball, while Anthony Gordon and Karim Adeyemi add more pace to the attack. There is also plenty of confidence in the squad with World Cup winners Pau Cubarsi, Pedri, Dani Olmo and Lamine Yamal. The big question is whether Hansi Flick will adapt his aggressive high line to withstand Europe’s best. It can leave plenty of space in behind against elite counter-attacking sides, but Rodri should help give them some much-needed protection and control. I like Barcelona at 7/1. ⚽ Bet on Barcelona to win the UCL at 7/1 with Betfred ⚽ Atletico Madrid & Inter Milan Always the bridesmaids, never the bride. That’s particularly true of Atletico, who have never won the Champions League despite reaching the final in 2014 and 2016. Diego Simeone remains in charge, but there are plenty of questions over whether he should, while Julian Alvarez is pushing for a move away. They have invested heavily in Cristian Romero, Morten Hjulmand, Kang-in Lee and Alejandro Grimaldo, but I still can’t quite see them finally getting over the line. Inter are more interesting at 28/1. They have reached two of the last four finals, losing to Manchester City and PSG, and although they underperformed in Europe last season, they still won Serie A and the Coppa Italia under Cristian Chivu. They’ve also added Djed Spence, Aleksandar Stankovic and Manuel Akanji to an already solid defence, so each-way at 28/1 looks interesting for a side that has made two of the last four finals. ⚽ Inter Milan to be champions at 28/1 with Betway ⚽ 🥇 Champions League winner history: who’s won it the most? Here’s a look at the most successful clubs in Champions League history and the last time they lifted the trophy. ClubTitlesMost recentReal Madrid152023/24AC Milan72006/07Liverpool62018/19Bayern Munich62019/20Barcelona52014/15Ajax41994/95Manchester United32007/08Inter Milan32009/10Juventus21995/96Benfica21961/62Nottingham Forest21979/80Porto22003/04Chelsea22020/21Paris Saint-Germain22025/26 💡 My Champions League winner betting tips Rather than simply backing an outright winner, I’ve chosen three other markets that appeal at solid prices. To reach the final I am absolutely having PSG to reach the final at 3/1 with bet365. They’ve won the competition in each of the last two seasons and Luis Enrique is hungry for the three-peat. At 3/1, I think that’s a good price for the defending champions to make it all the way back to the showpiece. ⚽ Get PSG to reach the final at 3/1 with bet365 ⚽ Nationality of winner Spain at 9/4 with bet365 is another one I like. Barcelona and Real Madrid both look renewed this season, with Rodri joining Flick’s exciting Barca side and Jose Mourinho returning to a heavily strengthened Madrid squad. You also get the added benefit if Atletico Madrid or Villarreal spring a surprise. It could set up a cracking battle between Mourinho and Flick, with both managers likely to push their teams to another level domestically, and their European hopes should benefit from that. With two of the main contenders coming from Spain, 9/4 looks fair. ⚽ Back a Spanish team to win the Champions League at 9/4 with bet365 ⚽ Each-way Inter Milan at 28/1 is my each-way pick. There appears to be a bit of vulnerability among the English sides this season, while Inter have the pedigree after reaching two of the last four finals. They’ll need an improved European campaign after underperforming last season, and luck with the draw will obviously play a part. But they’ve strengthened defensively, and at 28/1 I think they’re capable of using their continuity to their advantage. ⚽ Take a punt on Inter Milan each way at 28/1 with Betfred ⚽ 🗓️ Key dates for the 2026/27 Champions League The league phase draw takes place on August 27, with the competition getting underway in September. The league phase runs from September 2026 to January 2027, followed by the knockout play-offs in February. The competition culminates in the final at Atletico Madrid’s Metropolitano on June 5, 2027. 🤔 How to follow the latest Champions League news and results The Champions League is a marathon, not a sprint. So keeping on top of squad news, injuries and league-phase results can help when deciding whether a price still offers value. A key injury, change of manager or poor form can quickly change the outlook. With the knockout stages still a while away and the transfer window open, it’s worth taking your time to see how all the pieces of the puzzle come together when it comes to squads and league phase fixtures. 🙋 Champions League 2026/27 FAQs 1. Who is the favourite to win the Champions League? Current holders PSG are the favourites. 2. Has an underdog ever won the Champions League? Yes. Porto’s 2003/04 triumph is arguably the standout underdog story, while Liverpool, Inter Milan and Chelsea also won as outsiders. 3. Has any club retained the Champions League? Yes. Real Madrid did it three times between 2016 and 2018, while PSG have now won back-to-back titles. 4. Who won last season’s Champions League Golden Boot? Kylian Mbappe was the top scorer with 15 goals for Real Madrid, ahead of Harry Kane on 14. About the author Craig Mahood Craig Mahood is an expert in sports betting and online casinos and has worked with the company since 2020. He joined the Betting & Gaming team at The Sun in June 2022 and works closely with the leading bookmakers and online gaming companies to provide content on all areas of sports betting and gaming. He previously worked as a Digital Sports Reporter at the Scottish Sun, covering Scottish football with particular focus on Celtic and Rangers, As well as football, he has covered horse racing, boxing, darts, the Olympics and tennis for the Sun. Remember to gamble responsibly A responsible gambler is someone who: Establishes time and monetary limits before playing Only gambles with money they can afford to lose Never chase their losses Doesn’t gamble if they’re upset, angry or depressed Gamcare – gamcare.org.uk Read our guide on responsible gambling practices. For help with a gambling problem, call the National Gambling Helpline on 0808 8020 133 or go to gamstop.co.uk to be excluded from all UK-regulated gambling websites. Most read in Betting