Following their comeback win over Paris Saint-Germain, the bookmakers have strengthened Manchester City’s position as the tournament favourites from 11/2 to 3/1.
Pep Guardiola desperately needs the European crown to solidify his City legacy and following Wednesday night’s result, the bookmakers are pinning their faith in him to end his wait.
The Spaniard hasn’t won the competition since 2011 and suffered final heartbreak last year with defeat to Thomas Tuchel’s Chelsea.
However, with City appearing as imperious as ever, this could finally be the season where everything falls into place.
Champions League outrights
As well as trimming City's odds, the bookmakers also pushed PSG out to 6/1 from a pre-game 11/2.
For all their individual talent, Pochettino's men look far from a cohesive outfit. Nevertheless, they remain joint-fourth favourites to win their first Champions League title.
Second in the betting behind the English champions are Julien Nagelsmann's Bayern Munich.
The 34-year-old manager is hoping to take away Guardiola's record of being the youngest manager to win the Champions League (38) and has made solid progress in the group stage.
Bayern are one of three teams to have won all five of their group outings and if that wasn't enough, they're also the competition's top goalscorers.
Nevertheless, Jurgen Klopp's men have powered to five straight victories, scoring 15 goals in the process.
Chelsea have only suffered one defeat in the competition themselves. Their 1-0 loss to Juventus was avenged this week as Thomas Tuchel's demolished the Italians 4-0 at Stamford Bridge.
Throughout the history of the European Cup, only eight clubs have managed to successfully defend their title. However, the Blues certainly offer good value in becoming the ninth.
The fourth English club in the competition is Manchester United but looking at the odds, the bookmakers are clearly not convinced by the Red Devils. Who would be?
Following the sacking of Ole Gunnar Solskjaer, United racked up a 2-0 win at Villarreal to confirm their place in the next stage of the competition.
Nevertheless, United look far from a team that could challenge Europe's elite at this moment in time.