Who will reign supreme in Europe this year? Tuesday night sees the beginning of another Champions League and Europa League campaign as the 2023/24 competition gets underway.

Man City are the defending champions and favourites to secure back-to-back UCL trophies, but several elite clubs will also be in the hunt, with the likes of Real Madrid, Barcelona and Harry Kane's Bayern Munich. Newcastle also make their return to the competition after a 20-year absence.

In the Europa League, Liverpool will be the highest-profile club in the competition after their drop down from Champions League level and will begin as outright favourites, while Brighton will look to be the surprise packages as their incredible rise continues. 

As always, we break down the latest Champions League and Europa League betting odds and available betting markets for both fixed odds and spread betting!

View our guide on football spread betting here.

Note - Spread Betting losses can exceed deposit. Prices below are subject to fluctuation and change.

CHAMPIONS LEAGUE BETTING ODDS - WHO ARE THE OUTRIGHT FAVOURITES?

After Man City's maiden Champions League title last season, Pep Guardiola's side have been installed as outright favourites to win back-to-back Champions Leagues, although that feat has historically been extremely difficult to achieve.

City are available on the fixed odds at 9/4 and on the spreads at 53 - 58 on our Outright Index market. This spread betting market works on a 100-75-50-25-10-0 system, meaning that if City do win the trophy, the spread will make-up at 100.

A make-up of 75 occurs if a team reaches the final and loses, 50 for a losing semi-finalist, 25 for a losing quarter-finalist, 10 for a round-of-16 exit and all others settle at 0. So, at a spread of 53 - 58, if you were to buy the City spread and they win the trophy, you would win 42x your opening stake.

However, if they crashed out in the quarter-finals and you bought at 58, you would lose 23x your stake.

Or, if you were to expect Manchester Utd's recent struggles to continue and decided to sell Manchester Utd's spread of 20 - 24 and they crashed out in the group stages, you would win 20x your stake.

In terms of the other betting favourites, German champions Bayern Munich are second-favourites with a spread of 43 - 47 and a fixed odds price of 5/1. Can new striker Harry Kane lead his side to European glory?

Competition record-holders Real Madrid start with a potentially appealing spread of 29 - 33 and a fixed odds price of 17/2. Could Los Blancos claim a 15th title?

View all of our Champions League outright prices here.

CHAMPIONS LEAGUE BETTING ODDS - WHO WILL BE THE COMPETITION TOP SCORER?

Perhaps unsurprisingly, the two most-fancied players to win the Champions League Golden Boot are the star strikers of the two outright favourite teams. Man City's Norwegian talisman Erling Haaland is favoured at 13/10, with Harry Kane second at 7/2 and PSG's star man Kylian Mbappe third with a price of 11/2.

For reference, in last season's campaign, Haaland netted 12 goals, with Kane scoring just 1 and Mbappe scoring 7. How many goals will the trio end up scoring in this season's campaign?

View all of the latest Goalscorer prices here.

CHAMPIONS LEAGUE BETTING ODDS - OTHER MARKETS/SPECIALS

As always, Spreadex will also be offering several other markets and Specials for the competition. These include our Group Indices, where you can bet on points make-ups for each team in each group, as well as TV Specials markets, where match totals are aggregated for things like Goals, Bookings and Corners, as well as our Gameweek Aggregate markets and English Teams in Europe group market.

You can view all of the latest market prices here.

EUROPA LEAGUE BETTING ODDS - WHO ARE THE OUTRIGHT FAVOURITES?

On the Europa League side, Liverpool return to the European second-tier after their Premier League struggles of last season, but enter the competition as significant favourites to win the trophy with a fixed odds price of 10/3 and a spread of 18.1 - 23.1.

This means if they win the trophy and you bought at 23.1, the market settlement of 100 would leave you with 75.9x your stake. However, if you bought at 23.1 and they didn't win, you would lose 23.1 your stake. Or, if you sold at 18.1 and they won, you would lose 81.9x your stake, or win 18.1x your stake if they failed to win.

The second favourites on the outright market is fellow Premier League side Brighton at 12/1 and a spread of 5.2 - 7.7. Both sides will be well aware that winning the Europa League grants a ticket to Champions League football next season, so this may be a volatile market as priorities may change for the pair based on their league exploits. The other English interest will be with West Ham, and the Hammers are 20/1 to win the trophy after their victorious Conference League campaign last season.

The third favourites are Jose Mourinho's Roma side, who fell in the final to Sevilla last season.

You can view the prices in full here.

EUROPA LEAGUE BETTING ODDS - OTHER MARKETS/SPECIALS

Similarly to our Champions League offering, there will also be Special markets on offer for the Europa League, including the Aggregated Totals for things like Cross Goals and Total Goal Minutes. You can view these prices here.