Champions League Draw: 2/1 favs Man City to play Copenhagen and Arsenal get Porto

• City 2/13.00 to win UCL again in 2023/24

• Bayern and Arsenal next in Betfair winner markets

• 14-time winners Real Madrid to play Leipzig

Manchester City are 3.185/40 on the Betfair Exchange to win the Champions League and Arsenal 6.611/2 are third favourites after both received favourable draws for the competition's first knockout round of 16.

Pep Guardiola and Mikel Arteta might not admit it publicly but they will be delighted that their sides will play Copenhagen and Porto respectively when the round kicks off on 13 February.

Nothing can be taken for granted, however. Copenhagen terrorised Manchester United in the Danish capital, beating Erik ten Hag's men 4-3 in a ding-dong contest. But City are a different order of opponent and look a decent bet to become only the second team to win the competition in consecutive years in the Champions League era.

Porto will test the Gunners, especially in Portugal, but the Premier League club will be the favourites. In the six games they've met one another, Arsenal have won three, Porto have won two and one meeting was a draw.

Kane's Bayern to play Lazio and Barca get Napoli

Bettors think that, if anyone can stop City, it is Harry Kane's Bayern Munich 5.49/2. They will play Serie A club Lazio in the first knockout round.

Record 14-time winners Real Madrid [7.4] will take on German upstarts RB Leipzig. Two years ago, when they last won it, Carlo Ancelotti's men got better as the competition went on so it will be fascinating to see if the Jude Bellingham-powered 2023/24 vintage do the same.

Napoli v Barcelona conjures images of Diego Maradona and European football greatness but, while Xavi's men are 17.016/1 in the outright winner market, odds of 50.049/1 indicate little faith in the Serie A champions.

Paris Saint-Germain 14.013/1, meanwhile are still searching for their first Champions League title. In Luis Enrique, however, they have a manager who was in charge last time Barca won it. He will go back to Spain when the French champions take on an exciting Real Sociedad side.

Get the full draw below. The first legs of the last 16 will be played across two weeks, 13-14 and 20-21 February 2024, with the second legs on 5-6 and 12-13 March.

Champions League Round of 16 - Full fraw

• FC Porto v Arsenal
• Napoli v Barcelona
• Paris St-Germain v Real Sociedad
• Inter Milan v Atletico Madrid
• PSV Eindhoven v Borussia Dortmund
• Lazio v Bayern Munich
• FC Copenhagen v Manchester City
• RB Leipzig v Real Madrid

Read Premier League Jones Knows Notebook: Back Arsenal to win to nil at Liverpool at 5/1