Arsenal are 13/82.63 favourites to win this first leg in Madrid, but neither side is quite the same as they were when the Gunners dished out a 4-0 hammering to Atletico in October.
Saturday's tense 1-0 win over Newcastle was just a second in seven games for Arsenal, during which time they've scored five goals - including just one in total during the two legs of their scrappy win over Sporting Lisbon.
Atletico, though, have won just two in nine in all competitions so are struggling big time for form, leaving them as 19/102.90 match underdogs even though they beat Barcelona in the last round. Barca having a man sent off in both legs played a huge part in the outcome of that tie.
This isn't a classic Diego Simeone side either as their games have been full of goals at both ends of late - if anything it's Mikel Arteta's side that have the Atleti look about them in terms of keeping it tight and eeking out victories. If it came to a shootout then Arsenal in their current form couldn't keep up, but you don't see Arsenal getting involved in shootouts often.
So, what of the betting angles? Well, any goalkeeper to be fouled at 11/82.38 is always a bet I like with Arsenal and their mayhem at corners. Whoever starts in nets for the hosts, it's worth backing the Atleti keeper to make 5+ saves at 4/15.00.
Jan Oblak is back in goal for Atleti but even he's had saves to make - four at Arsenal and 12 across two legs against Brugge. His back-up Juan Musso had saves of 5-8-7-7 in his four UCL games and the way Madrid give away chances - allowing more shots on target than they have had themselves in attack - should result in Arsenal having plenty of attempts.
Back Atletico keeper to make 5+ saves
Gabriel scored against Atleti in the last meeting and even if you don't fancy a repeat performance he'll be a handful in the air again - and can be backed at 11/26.50 for 2+ headers at goal.
No need to hit the target for the big Brazilian so he just needs the attempts with his head - which he's had more of than anyone else in the Arsenal squad.
Both sides hit the target a lot, with Atletico hitting 81 and Arsenal 82, so both teams to have 4+ shots on target should be pretty achieveable at 13/82.63.
Given their shots on target form then it makes sense to look at a few players to test the keepers, with an OddsBoost making plenty of appeal as Viktor Gyokeres, Bukayo Saka and Julian Alvarez are 3/14.00 to have just one shot on target each.
Alvarez is of particular interest given his all-action displays in recent rounds so for him to hit 2+ shots on target at 9/52.80 shouldn't be an issue. Throw in two fouls though and you hit 5/16.00 for a bet that Alvarez has landed in three of his past four UCL starts.
Back Alvarez 2+ SOTs and 2+ fouls