LIVERPOOL and Barcelona are the current joint-favourites for Champions League glory this season.Bookmakers NetBet have priced the two European giants up ahead of reigning champions PSG, Mikel Arteta’s Arsenal and perennial winners Real Madrid in their latest Champions League odds.But with Manchester City, Bayern Munich and Chelsea also recent winners of Europe’s biggest club competition, it promises to be another exciting competition.NetBet new customer offer: Get £20 in Free Bets + 25 Free SpinsNetBet new customer offerHow to claimHead to NetBet HERE*Register as a brand new customerDeposit and bet £10 with minimum odds of Evens (1/1, 2.00) on any sportOnce settled, customers will be awarded 4 x £5 free bets + 25 free spinsThese are credited as 1 x £5 Bet Builder, 1 x £5 Acca, 1 x £5 Horse Racing and 1 x £5 UFCThe 25 free spins can be used on popular game Big Bass SplashNetBet new customer offer: Get £20 in free bets + 25 free spinsChampions League contenders (All odds subject to change)Liverpool – 6/1 with NetBetIt was quite remarkable for Liverpool to lose one solitary game in the Champions League last season yet find themselves out at the round of 16 stage.They did lose to eventual winners PSG after a penalty shoot-out at Anfield.They topped the league phase and the early exit would have helped domestic success. Money spent in the transfer window suggests they should be targeting to win everything.Outwith the Trent derby against Real Madrid, this year’s draw has been kind.Champions League oddsBarcelona – 6/1 with NetBetJoin Liverpool at the top of the betting as they were a short price later on in last season’s tournament to go all the way.Ultimately lost 7-6 in the semis to Inter in one of the best ties in recent memory and will be keen to make amends here.Some tricky ties in their league phase to contend with but no surprises if they navigate themselves to latter stages again.PSG – 13/2 with NetBetJust in behind the joint-favourites as they now look to defend the crown they won in splendid fashion last season.But did toil in the league phase before having to come through a play-off tie, which they did comfortably.Went from strength to strength from then on and toppled English hopefuls Liverpool, Aston Villa and Arsenal in knockouts in some style before a sensational 5-0 final win over Inter.Humbled somewhat by receiving a battering themselves in the Club World Cup final by Chelsea but can make a better showing of it again here.Though their fixtures don’t look too kind having been paired against Barcelona, Bayern, Newcastle and Tottenham amongst others.Check out the latest Champions League odds at NetBet.Champions League latest odds at NetBetChampions League outrightLiverpool 6/1Barcelona 6/1PSG 13/2Arsenal 7/1Real Madrid 8/1Man City 9/1Chelsea 12/1Bayern Munich 12/1Napoli 25/1Tottenham 25/1Inter 25/133/1 barChampions League oddsArsenal – 7/1 with NetBetThe Gunners fans are just desperate for some sort of silverware.And after really splashing the cash this summer, so is Mikel Arteta.Always seem to find somebody just too good on their day and even when beating Real Madrid in both legs of their quarter-final last year, they went on to lose both legs of their semi final against eventual winners PSG.Should be better set up this year with an actual striker in the door and over £300million in total spent across the squad.Real Madrid – 8/1 with NetBetMaybe highlights where Madrid are at the minute when you consider four teams ahead of them in the Champions League betting.The 15-time champions of Europe have a front three to die for, a top midfield and acquired their top defensive target in Trent Alexander-Arnold for only £10million.Three wins from three to start La Liga is a good start for new boss Xabi Alonso.Favourable draw outwith Liverpool and Man City but they did have to settle for a play-off spot after a difficult league phase.Man City – 9/1 with NetBetTerrific opening day win in the Premier League and suggestion was they’d invested wisely into the squad.Not clicked since and concerns mounting over their league credentials, never mind winning on the continent.Five teams shorter priced than them so definitely tempting if you believe they can get things right after a torrid campaign last year.Beaten in both legs by Real Madrid in the play-off phase last season after toiling in the league phase so will want to avoid that.Bet on football at NetBetOther notable contendersBayern Munich (12/1) are a much bigger price than usual and remains to be seen the strength of the Bundesliga with the high-profile names all seemingly leaving. Beaten by Inter in quarters last year. World champions Chelsea (12/1) now looking to become European champions again having been in-and-out of premier competition in recent seasons. Spent big in summer again to compete at this level but perhaps going the distance a step too far at this stage. Inter (25/1) were battered in last year’s final but put on a sensational run to get there and will be keen to do the same again. Tall order.Europa League winners Tottenham (33/1) have one trophy in the cabinet now and Thomas Frank has been allowed to spend to accommodate this competition as well as doing better in the league. Would be some effort if they went deep here.NetBet new customer offer: Get £20 in free bets + 25 free spins*New players only. Bet £10 min. odds 1/1 (2.00) to get 4 x £5 Free Bets: 1 x £5 Bet Builder, 1 x £5 Acca, 1x £5 Horse Racing & 1 x £5 UFC. Receive 25 Free Spins on Big Bass Splash (10p spins, no wagering). 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