Chelsea are as short as 7/2 (4.50) for Champions League glory following their 4-0 mauling of Atletico Madrid replacing previous favourites Real Madrid who slipped to a shock 3-2 defeat at home to AC Milan.
Real Madrid had been voerall favourites after winning their opening two games but they let a 1-0 lead slip against the Italians at the Bernabeu, with young Brazilian striker Pato firing home the winner for AC Milan with two minutes remaining.
Real Madrid are out to 6/1 (7.00) with Betfred while Chelsea have been chopped into 7/2 (4.5) by the same firm after making short work of struggling Atletico.
The Blues maintained their 100% record in Group D thanks to two goals from Salomon Kalou, one from Frank Lampard and a stoppage-time own goal from Luis Perea.
Holders Barcelona remain tied as favourites at a general 7/2 despite the Catalans' shock 2-1 home defeat to Rubin Kazan on Tuesday.
Manchester United are no bigger than 7/1 (8.00) fourth best with bet365 after they edged to a 1-0 victory away to CSKA Moscow.
Antonio Valencia grabbed the vital goal from close range with four minutes remaining to take the Red Devils' tally to nine points from three games.