The Magpies have leapfrogged the likes of Atletico Madrid, Inter Milan and Napoli on the bookmakers’ list of favourites to win the Champions League.
Eddie Howe’s Newcastle side welcomed Champions League football back to St. James’ Park, defeating French champions PSG 4-1 on Wednesday night.
Goals from local lads Dan Burn and Sean Longstaff were sandwiched between the opener from Miguel Almiron and a cracker from Fabian Schar.
Lucas Hernandez scored a consolation goal for PSG, who offered a minimal attacking threat, with Kylian Mbappe failing to secure a shot on target.
Since the win, bookmakers have slashed the Toon’s odds to win this year’s competition from 33/1 into 20/1 (best price 25/1 on Betfred).
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Newcastle Champions League Odds
Remarkably, Newcastle have taken 52% of the outright bets on oddschecker for the 2023/24 Champions League title since the PSG win, compared to just 9.3% previously.
They now sit around seventh favourites in the betting market, ahead of the likes of last season’s finalists Inter Milan (25/1), Atletico Madrid (25/1) and Napoli (33/1).
The win over PSG leaves Newcastle top of Group F and they are now the 1/1 (50% implied chance) favourites to finish as group winners.
Bookmakers also give Newcastle a 76.9% chance of qualifying from the group at odds of 3/10.
Next up for Newcastle is a doubleheader against Borussia Dortmund, who drew 0-0 at home to AC Milan in Matchday 2.
Who are the favourites to win the Champions League?
The top five favourites in the betting market remained the same following Matchday 2, with Man City still holding top spot at a best price of 9/4 on Betway.
City scored two late goals to secure a 3-1 away win over their closest rivals in Group G, RB Leipzig, and remain 2/1 to lift back-to-back Champions League titles.
Bayern Munich are the closest competitor to City in the betting market at 5/1, having made it two wins from two in Group A against Copenhagen.
Rounding off the top five favourites are Real Madrid (8/1), Arsenal (10/1) and Barcelona (12/1).
Champions League Winner Odds
| Team | Odds | Implied Chance |
|---|---|---|
| Man City | 2/1 | 33.3% |
| Bayern Munich | 5/1 | 16.7% |
| Real Madrid | 8/1 | 11.1% |
| Arsenal | 10/1 | 9.1% |
| Barcelona | 12/1 | 7.7% |
| PSG | 18/1 | 5.3% |
| Newcastle | 20/1 | 4.8% |
