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Champions League betting: Liverpool and Manchester City are big favorites on Tuesday

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Just eight teams remain in the Champions League.

The quarterfinals begin on Tuesday as Benfica hosts Liverpool, and Manchester City hosts Atletico Madrid. They continue on Wednesday with Chelsea’s game against Real Madrid, and Villarreal vs. Bayern Munich.

The second leg of the quarterfinal ties will be played next week with the fixtures flipped. If the two-leg matches are tied at the end of the second game, away goals will not come into play. UEFA ditched the away goals tiebreaker ahead of the 2021-22 Champions League.

The winner of Benfica and Liverpool will face the winner of Villarreal and Bayern in the semifinals while the winner of Chelsea and Real Madrid will face the winner of Man City and Atletico in the other semifinal. A Chelsea and Man City semi will be a rematch of last year’s final while a Real vs. Atletico matchup would guarantee a La Liga team in this year’s final.

Man City and Liverpool are the favorites to win the competition since they're on opposite sides of the bracket. Villarreal and Benfica are the two long shots to win the Champions League by a wide margin as they are significant underdogs in their quarterfinal matchups.

Here’s what you need to know ahead of Tuesday’s two quarterfinals at 3 p.m. ET. The odds listed below are for the first legs of each quarterfinal.

All odds are from BetMGM.

Can Chelsea and Man City meet in the Champions League again?
Both Chelsea and Manchester City are still alive in the Champions League. (Photo by Matt McNulty - Manchester City/Manchester City FC via Getty Images)

Benfica vs. Liverpool (over/under 2.5 goals)

  • Benfica (+725)

  • Liverpool (-250)

  • Tie (+375)

Manchester City vs. Atletico Madrid (2.5)

  • Man City (-300)

  • Atletico (+900)

  • Tie (+425)

Chelsea vs. Real Madrid (2.5) [Wednesday]

  • Chelsea (+105)

  • Real (+260)

  • Tie (+240)

Villarreal vs. Bayern Munich (2.5) [Wednesday]

  • Villarreal (+450)

  • Bayern (-175)

  • Tie (+310)

Champions League futures

  • Manchester City (+200)

  • Liverpool (+225)

  • Bayern Munich (+300)

  • Real Madrid (+1100)

  • Chelsea (+1100)

  • Atletico Madrid (+2200)

  • Villarreal (+8000)

  • Benfica (+15000)