EFL Cup betting odds - How Man Utd and Man City are rated for success

We are now one step closer to seeing who will win this season's Carabao Cup after the competition's third-round fixtures were staged this week.

As ever, it promised to be two nights of action-packed drama, with high-scoring victories and a collection of shocks along the way.

But with now just 16 teams remaining - 11 of which are from the Premier League - a clearer vision of who may be capable of going all the way is becoming more and more apparent.

Manchester United's penalty shoot-out victory over League One Rochdale has now set-up a mouthwatering fourth round tie with Chelsea.

United are priced at 12/1 to win the competition with the Pools for any fans looking for value in the market. Man City are favourites to retain their crown at 13/8 with Southampton at home up next.

Courtesy of The Pools , here are the very latest odds on who are the front runners to win this season's Carabao Cup…

MANCHESTER CITY - 13/8

They have won the Carabao Cup in each of the last two seasons and City are currently the favourites to make it a hat-trick.

After overcoming a potentially tricky obstacle at Deepdale against Preston North End on Tuesday, winning 3-0, City now have Southampton in their way at the Etihad Stadium in round-four.

Should they overcome the Saints, who defeated arch-rivals Portsmouth in round-three, City will be into the last eight and potentially just another three games away from marching down Wembley Way once more.

LIVERPOOL - 5/1

They are arch rivals in the race for the Premier League title and it seems almost certain that they will, too, be the ones to watch in the challenge for the Carabao Cup.

Liverpool, despite rotating their squad, cruised into the fourth-round stage on Wednesday evening, defeating League One side MK Dons 2-0 at Stadium: MK.

But now the Reds have a challenging, yet tasty tie in round-four at Anfield, with Jurgen Klopp's side having been drawn against Arsenal.

CHELSEA - 8/1

After being beaten in the final by Manchester City on penalties last season, you could understand why Chelsea would make this competition a priority this season, especially as they are almost certain to not challenge for the Premier League.

Boss Frank Lampard made his feelings for the competition known on Wednesday night, overseeing his first home win as Blues manager, watching his side run riot, beating League Two club Grimsby Town 7-1.

Next up for the Blues, though, is Manchester United in round-four and that could be another eventful clash.

LEICESTER CITY - 17/2

With just one defeat to their name so far this season in league and cup, Brendan Rodgers' Leicester City look a match for anybody.

The Foxes cruised past Championship side Luton Town on Tuesday night, winning 4-0 at Kenilworth Road, setting up a fourth-round clash with Burton Albion, who provided one of the shocks of the round, beating Bournemouth.

But whilst a trip to Burton will be no easy task, the Foxes will fancy their chances of getting one step closer to Wembley and making it to the last-eight.

MANCHESTER UNITED - 12/1

Manchester United were close to suffering one of the biggest Carabao Cup shocks in history on Wednesday night as they were forced to overcome League One side Rochdale on penalties.

Having taken the lead through Mason Greenwood's goal, Dale stunned Old Trafford, drawing level through 16-year-old Luke Matheson.

United, though, edged through to the last-16 on penalties, booking a tie with Chelsea at Stamford Bridge.

Elsewhere, the clubs that remain in the competition outside of the Premier League - Sunderland, Oxford United, Burton Albion, Colchester United and Crawley Town - are currently each ranked at more than 150/1 to win the Carabao Cup.