The market principles staged a late rally in Germany while Diego Simeone's side established a commanding first leg advantage over Juventus
Despite trailing 2-1 with 84 minutes on the clock in Schalke, the 10-men of Manchester City were able to salvage a first leg advantage in their Champions League last 16 tie.
VAR had a significant part to play in the game but a sublime free-kick from Leroy Sane got Pep Guardiola's side back level before Raheem Sterling sealed the victory with a neat finish. Just before the equaliser City were trading at 100/1 (101.0) to win the game with bet365.
The latest Champions League odds see City retain their favouritism, priced at 11/4 (3.75) ahead of what should be a more straightforward second leg at the Etihad Stadium in three weeks' time.
The Premier League side are just 1/500 to qualify for the quarter finals and 10/1 (11.0) to win a quadruple of trophies this term.
Barcelona and Paris-Saint Germain remain at 5/1 (6.0) but there was plenty of movement elsewhere in the outright market thanks to Wednesday's other clash.
Atletico Madrid were as big as 25/1 (26.0) to win the Champions League before kick-off but have been cut to just 11/1 (12.0) courtesy of a 2-0 win over Juventus. Alvaro Morata had a goal disallowed by VAR but second half strikes from Uruguayan pair Jose Giminez and Diego Godin gave the Spanish side a commanding advantage.
The bookmakers had reported plenty of support for Juventus after the arrival of Cristiano Ronaldo earlier in the season and they’d been kept short in the betting ever since. At 7/1 (8.0) before kick-off in Madrid the Old Lady were deemed legitimate contenders to go one better than their two losing final appearances in the last four years.
With Atleti now in the driving seat though, Juve have drifted to 16/1 (17.0) in the outright market and are 10/3 (4.33) to turn the tie around at the Allianz Stadium.
Defending champions Real Madrid hold a narrow advantage over Ajax ahead of their second meeting at the Bernabeu and bet365 make Los Blancos a 9/1 (10.0) chance to win a fourth consecutive European title.
Bayern Munich (10/1) and Liverpool (12/1) drew 0-0 at Anfield and the bookmakers feel that home advantage gives the German side a narrow advantage in terms of their long term prospects. Interestingly though, the online firm can't split the pair in terms of qualification, offering 10/11 (1.91) on both sides for the second leg.
Tottenham can be backed at 16/1 (17.0) to win the competition having taken an emphatic 3-0 advantage over Borussia Dortmund at Wembley. Manchester United were the only English team to lose the first leg of their last 16 tie and they are available at 18/1 (19.0) to qualify against PSG and 125/1 (126.0) to go all the way.