Champions League odds, schedule, live stream: Atletico Madrid-Chelsea, Lazio-Bayern Munich in round of 16

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The UEFA Champions League is back. The knockout stage kicked off last week in Europe’s top club soccer competition. PSG, Liverpool, Porto and Dortmund were all winners last week. Eight teams — Atletico Madrid, Chelsea, Bayern Munich, Lazio, Manchester City, Borussia Monchengladbach, Real Madrid and Atalanta — will try to join them and put one foot in the quarterfinals this week.

You can find the full Champions League knockout stage schedule here. And you can stream every Champions League match on CBS All Access. Sign up now and enjoy a free trial of CBS All Access ahead of the big matches. Every match will be available on demand shortly after the final whistle. 

Craving more Champions League coverage? The Que Golazo podcast has you covered with a preview show bringing you everything you need to know ahead of Wednesday’s matches. Listen below:

So who’s favored in each of the eight upcoming knockout stage first legs? And who has the best odds to lift the Champions League trophy in 2021? Below are the current odds from William Hill Sportsbook.

Round of 16 odds

(All matches listed are first legs)

Atletico Madrid vs. Chelsea, Feb. 23 (CBS All Access)
Atletico Madrid +160; Draw +205; Chelsea +195

Lazio vs. Bayern Munich, Feb. 23 (CBS All Access)
Lazio +350; Draw +305; Bayern -140

Atalanta vs. Real Madrid, Feb. 24 (CBS All Access)
Atalanta +140; Draw +250; Real +185

Borussia Monchengladbach vs. Manchester City, Feb. 24 (CBS All Access)
Gladbach +850; Draw +440; City -320

Unsurprisingly, Manchester City and Bayern Munich are the heaviest favorites in their round of 16 first legs. They are also the biggest title favorites entering the knockout stage. Manchester City, currently on a terrific run of form, are the title favorites with the reigning  champs close behind.

Odds to win 2021 Champions League

(Odds as of Feb. 22)

  • Manchester City: +275
  • Bayern Munich: +333
  • PSG: +500
  • Liverpool: +600
  • Atletico Madrid: +1400
  • Real Madrid: +1600
  • Chelsea: +1800
  • Dortmund: +1800
  • Juventus: +1800
  • Atalanta: +4000
  • Porto: +8000
  • Barcelona: +10000
  • Sevilla: +10000
  • Gladbach: +12500
  • RB Leipzig: +15000
  • Lazio: +15000

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