Carlo Ancelotti's team are being backed in to gain revenge for the European exits at the hands of the German club last season, while the Blues are not fancied to win in Paris
The Spanish and German giants met in the final four last season with Dortmund progressing 4-3 on aggregate.
But bet365 are predicting no repeat with Real very short at $1.20 to qualify for the semi-final stage and Dortmund paying $4.75.
In match betting for the first leg, Real are $1.36, the draw is paying $5.50, while you can get a massive $9 on the German side causing an upset.
We expect the home side to have far too much firepower for the visitors and like 3-0 at $10 in the correct score market.
In the other clash on Thursday morning, hosts PSG are favourites for their first-leg against Chelsea.
The French side are priced at $2.05 with the draw paying $3.50 and Chelsea at $4.
Interestingly in the to qualify market, bet365 can't separate the two sides with both matched at $1.90.