Bookmakers have updated their latest odds for the UEFA Champions League 2025/26 title — and there’s a clear frontrunner. Last season’s champions, Paris Saint-Germain, remain the team to beat, topping the list with odds of 5.25 under head coach Luis Enrique.

Just behind them are Arsenal, whose impressive run of form — including a key win over Atlético Madrid and their surge to first place in the Premier League — has lifted the Gunners to second favourite at 5.75.

Barcelona sit third at 6.75, overtaking Liverpool (now fourth at 7.50) after the Merseyside club suffered a dip in form under new manager Arne Slot. Completing the top six are Bayern Munich and Manchester City, both still viewed as serious contenders despite inconsistent European campaigns.

The surprise comes from Real Madrid, who find themselves only seventh in the odds — a rare position for the record 14-time European champions. Bookmakers appear cautious about Carlo Ancelotti’s side this time around, as other European heavyweights surge ahead.