After Arsenal came back from two down to beat Standard Liege in Belgium, they were backed up into 5th favourite to win the Champions League.
The Gunners were 2-0 down inside five minutes but goals from Nicklas Bendtner, Thomas Vermaelen and Eduardo turned the match on its head and sparked wild celebrations from the visiting fans.
Liverpool meanwhile slipped back after battling to an uninspiring 1-0 win over Hungarian side Debrecen, while Inter Milan and Barcelona held their positions after battling to a 0-0 draw in Milan.
Spanish giants Barcelona and Real Madrid are vying for favouritism at a best of 4/1 and 5/1.
But English teams occupy the four of the next places in the betting, with Chelsea shortest at 6/1, Manchester United 15/2, Arsenal 11/1, and both Inter Milan and Liverpool on offer at 12s.
BEST OUTRIGHT ODDS FOR CHAMPIONS LEAGUE :
5.00 FC Barcelona @ Eurobet
6.00 Real Madrid @ Betfred
7.00 Chelsea @ Bet365
8.50 Manchester United FC @ Victor Chandler
12.00 Arsenal @ Betfred
13.00 Internazionale Milano @ Paddy Power
13.00 Liverpool @ BetFred
26.00 AC Milan @ Victor Chandler
29.00 Bayern Munich @ Ladbrokes