Juve, reigning Serie A champions and on track to retain their title, are paying $1.70 at bet365 to win away to Ligue 1 side Lyon, who are a lengthy $5.75 to come out on top in front of their own fans.
The draw at the Stade de Gerland is worth $3.80.
Antonio Conte's side go into the game fresh from a 2-0 loss away to Napoli in the league, but had won four matches in succession prior to that, and were unbeaten since a Coppa Italia loss to Roma on January 22.
Lyon meanwhile went down at home to Saint-Etienne last time out, making it three losses in four games from all competitions, with Remi Garde's side down to fifth in the table.
Juve are close to unbackable $1.14 favourites to advance from the tie, with Lyon unfancied at $5.50.
The first goal-scorer betting market is dominated by players from the Italian side, with Chilean midfielder Arturo Vidal perhaps worth a look at $7.50. Lyon's Bafetimbi Gomis is paying $9.50 to hit the back of the net first.
Elsewhere on Thursday night, Liga Sagres heavyweights Porto are $1.85 favourites to win at home to La Liga side Sevilla ($4.50), with the draw at Estadio do Dragao paying $3.75.
Porto, Europa League winners in 2011, are $1.61 to advance, with Sevilla at $4.50.
In the other quarter-final first legs, AZ ($5.50) are at home to Benfica ($1.72), while Basel ($3.60) await the visit of Valencia ($2.15).