Arsenal's victory over Bayern Munich on Wednesday was a clear message to all the other contenders across the continent.
The Gunners lead the standings in England and Europe, and that was a strong display against the runaway Bundesliga leaders.
The Germans have 10 wins and a draw in their 11 league games, and had a perfect record in the UCL group stage until the loss.
Well, how about Paris Saint-Germain? There is no reason to forget how dominant they were in their title run earlier this year.
So, which teams have the best UEFA Champions League odds?
Let's dig into the market at Kalshi, which operates more like the stock market than a traditional sportsbook.
UEFA Champions League Odds
As mentioned, Arsenal has proven its worth this season. Although in previous years they have been mocked for failing in the biggest games — or whenever they seemed to be inching closer to the title — the Gunners are as steady as they come now.
Mikel Arteta has them at the top of the Premier League, six points ahead of second-place Chelsea, and they also lead the Champions League standings after winning all five games, despite missing strikers Kai Havertz and Viktor Gyokeres due to injuries.
Will they be able to hold on to the lead this time? In Europe, that will only help them get home advantage throughout the playoffs, and the time will come between February and May when Arsenal will have to confirm their form against the toughest rivals.
Bettors seem to trust they will turn their luck around this time, which is why the Gunners lead all contenders at Kalshi.
Bayern Munich will probably be one of those rivals along the way. This loss will only strengthen the Bavarians' desire to fight for the UCL trophy, especially since there doesn't seem to be a worthy opponent in the Bundesliga. The Germans are second in this market with 17%.
PSG (fourth, 11%) still has what it takes to repeat, but their only loss came at the hands of Bayern, which already tells you how competitive the road to the final will be come February.
Manchester City has quickly recovered from a lousy start to the season, and with an inspired Erling Haaland scoring goals at will, they have taken the third spot with 12%. Chelsea, the first and current Club World Cup champion (8%) and Liverpool (9%) are also in the mix, although the Reds might fall off this list altogether amidst a sudden crisis that has manager Arne Slot fearing dismissal.
Barcelona and Real Madrid, no matter how outmatched they seem against English sides this season, will always be considered, and are both at 10%.
What is Kalshi?
Different than a traditional sportsbook and available in all 50 states, Kalshi allows users to make predictions across several unique markets, including sports, entertainment, elections and even weather.
Kalshi operates on a contract-based system where users buy "contracts" (priced between 1–99 cents) based on whether they believe a specific event will happen. The price of each contract fluctuates in real time based on market sentiment, and like the stock market, traders can sell positions early to lock in profits (or minimize losses).
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