Barcelona has drawn Arsenal in the Champions League round of 16, a move that's seen its odds at the Westgate Las Vegas SuperBook unchanged at 9-to-4 to win a second straight title.
The Gunners did well to recover from a poor start to the previous stage, but their failure to top the group has seen their odds drift from 20-to-1 to 40-to-1 after drawing the favorites in the futures market. Arsenal qualified behind Bayern Munich in Group F, a significant achievement in itself considering the first two games of its campaign, and the Gunners are 4-to-1 underdogs to better Barcelona over two legs and make it to the quarterfinals.
Pep Guardiola will be desperate to win this competition in what is likely to be his final season in charge of Bayern Munich, and the Bundesliga champions are now priced at 5-to-2 odds to win the tournament after their draw against last season's beaten finalists Juventus.
Real Madrid was the only other side offered at a single-digit price before the draw, with Rafael Benitez looking replicate his success with Liverpool in 2005. The 10-time champions may be having issues domestically, but they romped through Group A, picking up 16 points and scoring 19 times. Their odds remain 5-to-1 after being drawn against Roma.
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Manchester City, at 12-to-1, was the shortest-priced English side after winning Group D. Manuel Pellegrini's side was rewarded with a draw against Dymano Kiev are now 10-to-1 shots to claim a first Champions League title.
Paris Saint-Germain is in a commanding position in Ligue 1, and its draw against Chelsea has seen its odds drift slightly, from 12-to-1 to 15-to-1.
Chelsea's domestic woes haven't been replicated in Europe, and Jose Mourinho is 20-to-1 to win the tournament with a third team after his previous successes with Porto and Inter Milan. The Blues were 15-to-1 pre-draw, and it looks a tough ask for Mourinho's men to better a side that knocked them out of the tournament last year.
Atletico Madrid lost to city rivals Real in the 2014 final, and Diego Simeone's side is down to 12-to-1, from 15-to-1 pre-draw, at the Westgate to go one better this time around.
The Champions League final is set for Saturday, May 28 at San Siro Stadium in Milan.
Here are updated futures odds, as well as odds to advance to the quarterfinals, posted at the Westgate.
ODDS TO WIN 2015-16 UEFA CHAMPIONS LEAGUE
BARCELONA 9/4
BAYERN MUNICH 5/2
REAL MADRID 5/1
MANCHESTER CITY 10/1 (12/1)
ATLETICO MADRID 12/1 (15/1)
PSG 15/1 (12/1)
CHELSEA 20/1 (15/1)
JUVENTUS 30/1 (25/1)
ARSENAL 40/1 (20/1)
WOLFSBURG 40/1 (60/1)
ZENIT ST. PETERSBURG 60/1
ROMA 100/1 (60/1)
BENFICA 100/1 (125/1)
PSV EINDHOVEN 200/1 (150/1)
GENT 300/1
DYNAMO KIEV 500/1 (200/1)
TO ADVANCE TO QUARTERFINALS:
BENFICA +115
ZENIT ST. PETERSBURG -135
CHELSEA +105
PSG -125
GENT +235
WOLFSBURG -275
ROMA +425
REAL MADRID -550
ARSENAL +400
BARCELONA -500
JUVENTUS +330
BAYERN MUNICH -400
DYNAMO KIEV +275
MANCHESTER CITY -335
PSV EINDHOVEN +375
ATLETICO MADRID -450
This story has been edited since its original version on Goal.com to reflect the odds offered in Las Vegas.