Bet365 Free Bet and 2012/13 Champions League Odds

There's going to be a very interesting race for the 2012/3 Champions League Trophy and you can expect some extremely wild swings (and a number of solid betting opportunities as well). There are two very interesting subplots happening at the top of the odds table but there's also a few very good opportunities in the outside markets – particularly some of the smaller sides getting out of their respective groups.

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Would you believe that the favourite's position is a dead-on shoot-out between Barcelona and Real Madrid? In a situation that will probably not surprise too many, Barcelona are just getting the edge and they are priced at an 11/4 margin while Jose Mourinho's men are available at a still-competitive 4/1 listing.

The two sides from Manchester are both priced out at around 7/1 and you reckon that City will likely take a bit more money than United at this stage of the competition – particularly if they are able to land some of the bigger signings that they are being linked with at the moment. United are still looking to gel a new team together but the recent additions that Sir Alex Ferguson has made, namely bringing in Shinji Kagawa and pulling off a serious coup in landing Robin Van Persie.

The extra experience will certainly bode well for their European ambitions.

Defending champions Chelsea are available at 12/1 and it's not often that you see them priced at odds this long to repeat as Champions League winners so it's an indication of just what a fluke many people think Chelsea's win really was.

Their opponents Bayern Munich are priced at 16/1 alongside Juventus – who are emerging with a very strong team this year and look dark horses to win the tournament. Big-spending Paris St Germain are also trading at a competitive listing and you'll find them at 16/1 as well.

AC Milan are at 20/1 while Arsenal trade at 25/1.

In regards to the Champions League Groups, Manchester City came up with the shortest end of the stick as they have the certifiable group of death. However, it's a great opportunity for them to prove themselves at the highest level and sponge up some big-time TV money. United are 1/6 to get out of their easy group, Barcelona trade at 1/9, Bayern Munich are available at 4/9, Chelsea are favoured but it's much more competitive in their group as they trade at 4/5. Real Madrid get the slim edge in a tough group with an odds-on price of 8/11, Milan are 4/6, Arsenal are 8/13 and PSG can be backed at 4/6.