The Blues have reached the last two finals, beating Manchester United last season, but Pep Guardiola's citizens have been installed as favourites
Manchester City are favourites to win the FA Cup for the first time since 2011 ahead of the third round.
William Hill make the Premier League champions just 7/2 (4.50) to lift the prestigious trophy, eight years since they last managed the feat when a Yaya Toure goal saw off Stoke City in the final.
A fifth round exit at Wigan Athletic last season was a disappointing return for City, although a record-breaking Premier League season will have more than made up for that in the eyes of the Etihad Stadium faithful.
Current league leaders Liverpool travel to Wolves in the third round and are available at 6/1 (7.0) in the outright market to win the trophy for the eighth time.
However, with the Reds top of the table and the title race set to be closely-fought, it would be little surprise to see Jurgen Klopp prioritise the Premier League over the FA Cup.
Also priced at 6/1 (7.0) are holders Chelsea, ahead of Nottingham Forest’s visit to west London on Saturday. The Blues saw off Manchester United in last season’s final, just 12 months after losing 2-1 to Arsenal at Wembley.
Elsewhere, Ole Gunnar Solskjaer has started life as United manger in superb fashion and with a top four finish still somewhat unlikely, the interim boss could target FA Cup glory. William Hill quote them at 13/2 (7.50).
The Red Devils have lifted the trophy just once in the last 14 years and will be on the hunt for domestic silverware, considering a Champions League last 16 tie against Paris Saint-Germain is a very tough assignment.
Tottenham have reached the semi-finals of the FA Cup in the last two seasons and are 8/1 (9.0) to win the tournament, whilst local rivals Arsenal are 9/1 (10.0) to win it in Unai Emery’s debut campaign.
Leicester are the shortest non-Big Six side at 16/1 (17.0), but it is worth noting that, incredibly, 29 of the last 32 FA Cups have been won by a team currently part of that sextet of elite clubs.