Betting: Champions League Winner odds

Pep Guardiola's side are the leading contenders to be crowned Europe's best team ahead of Thursday's draw at the Grimaldi Forum in Monaco

The 32 teams that will contest this season's Champions League have been confirmed and will find out their group stage fate on Thursday afternoon.

The draw is scheduled for 18:00 CET in Monaco and bet365 make Manchester City their 5/1 (6.0) favourites to go all the way to European glory this season.

Despite dominating the Premier League, breaking several records en route to another domestic title, City were knocked out of Europe by Liverpool at the quarter final stage last term.

Regardless, the odds compilers see them as the most likely winners at this point, although there is little to choose between several frontrunners in the market.

Cristiano Ronaldo's move to Turin has seen Juventus well backed. The Italian champions have contested two of the last four finals in this competition but were as big as 16/1 (17.0) back in March when the market was initially formed.

Now though, the Old Lady are 6/1 (7.0) with bet365 and some firms even have them as co-favourites alongside their English counterparts. The question now is can the competiton's all-time leading scorer rediscover his form for his new side?

Barcelona are also available at 6/1 (7.0) to win a first European title since 2015 and are the leading contenders from Spain according to the bookmakers.

In previous years, La Liga's elite have dominated this competition, providing the winner for each of the past five editions. Four of those have come courtesy of Real Madrid, including each of the last three, but the holders are out at an industry best quote of 9/1 (10.0).

Having seen Zinedine Zidane leave the club plus the competition's leading scorer head for pastures new, it's no surprise to see Los Blancos a little further back in the betting although they defied similar prices to triumph last season too.

Paris Saint-Germain were all the rage last year and the Ligue 1 side went into the last 16 draw as favourites. PSG dominated their group but came unstuck against the eventual winners in the first knockout phase.

Despite still having plenty to prove on this stage, the club that can boast both Neymar and Kylian Mbappe in attack are 7/1 (8.0) to win the tournament this time around.

Bayern Munich are 10/1 (11.0) to repeat their success from 2013 while last season's beaten finalists Liverpool are also 10/1 (11.0) with bet365.

Atletico Madrid come next at 12/1 (13.0) having been beaten finalists in both 2014 and 2016, losing to their illustrious city rivals on both occasions.

Elsewhere, bigger prices are available about the likes of Tottenham (20/1), Manchester United (25/1) and Italian pair Napoli and Inter Milan who are both 50/1 (51.0).