Who will win Champions League 2022/23? Betting odds, futures, best bets & expert predictions

Real Madrid have turned back time on an aging squad and carved their way to the Champions League crown in 2021/22. Here at Sporting News we saw it coming.

The top European club tournament has a fresh start in 2022/23 and as usual there will be a multitude of contenders and contenders in the coming months.

Favorites Man City and PSG are both chasing their club’s first-ever European crown and Real Madrid could extend their record 14 continental titles if they manage to repeat themselves. Liverpool and Bayern Munich face another slump while AC Milan and Barcelona hope they can regain some of the glory of their glory years this season.

Sporting News gives you an early look at the odds as they stand today, potential betting opportunities and which sides could surprise or disappoint in this season’s European competition.

MORE: Which teams are in the 2022/23 UEFA Champions League?

Who will win the Champions League 2023? Latest Odds

Premier League sides Man City, Liverpool, Chelsea and Tottenham are all among the betting favorites, while La Liga giants Barcelona line up as Spanish contenders alongside holders Real Madrid. Italian clubs appear lower in the list as no Italian team has won the competition since 2010.

The only German club to appear among the top teams is Bayern Munich, who last won in 2020 when they topped PSG. Since the turn of the millennium, FC Bayern is the only German club to have won three titles in this period.

Odds & Tips from August 16, 2022

team country odds
USA (Draft Kings)
United Kingdom (SkyBet)
Canada (sports interaction)
Title (Last)
man city England +275 11/4 2.82
Liverpool England +550 9/2 4.69 6 (2019)
PSG France +550 2.11 4.80
Bayern Munich Germany +650 7/1 5.64 6 (2020)
real Madrid Spain +1000 12/1 8.05 14 (2022)
Barcelona Spain +1200 14/1 02/10 5 (2015)
Chelsea England +1200 14/1 10.53 2 (2021)
Tottenham England +2000 20/1 13.92
juventus Italy +2800 25/1 20.98 2 (1996)
Inter Milan Italy +2800 33/1 22.90 3 (2010)
Atlético Madrid Spain +3500 40/1 27.36
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The best bets to win the Champions League 2023

All odds via Sports Interaction

Favourite: Manchester City (+185)

It’s hard to look away from Manchester City as title favorites. The Citizens have dominated the Premier League, winning four of the last five league titles, but they have not been enough in the European game. This could be the season changing.

Pep Guardiola, who is still looking for his first Champions League title, added striker Erling Haaland (below) who could become the crucial factor Man City need to push them over the hump. City have reached at least the semifinals in each of the last two seasons but need more guts to climb to the top of the podium.

The biggest blow to previous Man City teams is that it was built for a long domestic season rather than a tournament environment where margins are tight. That may no longer be the case with Haaland and a few other new pieces. It’s only a matter of time before Man City finally get their hands on the trophy.

Erling Haaland joined Manchester City from Borussia Dortmund

Sleepers: Barcelona (+893), Tottenham (+1310)

Barcelona seemed to fall off a cliff in the first half of last season and were knocked out of the Champions League group stage before Xavi arrived to steady the ship. This summer, the Blaugrana have reshuffled the deck and brought top talent into the starting line-up, hoping to once again be a contender for a trophy they last lifted in 2015.

It starts with Robert Lewandowski up front, supported by Raphinha on the wing and former Chelsea centre-back Andreas Christensen anchoring the defence. Ex-AC Milan star Franck Kessie could earn a regular place over time. Meanwhile, Ousmane Dembele, who has just signed a new contract, seems keen to show why he can be a leader of this revamped Barcelona.

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Tottenham, meanwhile, also have one of the best front lines in Europe. Harry Kane and Son Heung-min are among the continent’s best double wins, while Dejan Kulusevski looks like the signing for the 2022 winter transfer window. New addition Richarlison adds to the mix in a devastating four-headed monster.

Spurs are back in the Champions League after a brief two-year hiatus and pose a threat to teams across Europe as they surge into the top tier of teams both domestically and internationally under Antonio Conte.

MORE: Barcelona squad, transfers and shirt numbers for 2022/23 season

Overrated: Chelsea (+916)

The Blues are in a challenging situation and face potential relegation from the Premier League’s top clubs. A poor pre-season performance was punctuated by a flurry of departures and a slower transfer window for newly hired players.

The failures of Antonio Rüdiger, Romelu Lukaku, Andreas Christensen, Malang Sarr and Timo Werner were not all adequately replaced. Raheem Sterling is a positive addition, while Kalidou Koulibaly and Marc Cucurella have seen plenty of money injected but it’s all yet to come together.

There are still clear defects, especially in the front area. Coach Thomas Tuchel (below) seems to insist on playing his style of football, even though the side barely fit the tactical demands of his 3-4-2-1 system. Christian Pulisic is underutilized and apparently in the manager’s doghouse, and the chemistry between Mason Mount and Kai Havertz still seems lacking in clout.

Until they put it together and have a major summer overhaul, Chelsea cannot be considered a contender at the moment. It could get worse before it gets better, especially if Tuchel continues to publicly lament the condition.

Chelsea manager Thomas Tuchel gives a thumbs up

Much to prove: Paris Saint-Germain (+383)

PSG once again looks like one of the top clubs in Europe on paper. So far that’s all they’ve been in the Champions League – good on paper. In recent years, PSG have capitulated at the slightest sign of adversity.

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PSG have had rumors of front-office struggles for years and it took otherworldly money to trick Kylian Mbappe into postponing his Real Madrid dreams. Last season, Neymar and Lionel Messi struggled with expectations due to injuries and poor form, and coach Mauricio Pochettino watched his side collapse against Real Madrid.

PSG may have a great squad but until they can act as a real team, from the players to the manager to the board of directors, there is no sensible way to support the Paris side. We’ll believe it when we see it.

MORE: When the leagues stop for the 2022 World Cup

Schedule Champions League 2022/23

The Champions League campaign will essentially consist of two parts. The group stage ahead of the World Cup and the knockout rounds when the tournament resumes in February.

The Champions League final will take place in Turkey on June 10th.

Group stage (32 teams, played in 2022):

  • Matchday 1: 6th-7th September
  • Matchday 2: September 13th and 14th
  • Matchday 3: 4th-5th October
  • 4th matchday: 11-12 October
  • Matchday 5: 25-26 October
  • Matchday 6: November 1st and 2nd

Knockout Stage (played 2023):

  • Round of 16: 14th/15th & 21./22. (Stage 1) & 7./8. & 14./15. (stage 2)
  • Quarter finals: 11-12 April (Stage 1) & 18.–19. April (stage 2)
  • Semifinals: 9th-10th May (stage 1) and 16.-17. May (stage 2)
  • Final: June 10th

MORE: When and where is the 2023 Champions League final?

2022/23 Champions League draw dates

The draw for all eight groups will take place on August 25th. All six matchdays of the group stage will be completed before the break for the 2022 World Cup, as will the knockout round draw, which is scheduled for November 7th.

2022-23 Champions League draw

  • group stage: August 25, 2022
  • Round of 16: November 7, 2022
  • Quarterfinals & Semifinals: March 17, 2023

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