City are Paddy Power's favourites at 6/5 (2.20) to win the game in normal time but new customers can take advantage of a massive 9/2 (5.50) on the Premier League holders securing a win over the Gunners.
Manuel Pellegrini has added several players to his squad in the summer transfer window thus far. Willy Caballero, Bacary Sagna and Fernando have all joined the City ranks while Frank Lampard will prepare for his career with New York FC by spending time with the Premier League champions.
The Gunners have also been busy in the transfer market, adding Calum Chambers, Mathieu Debuchy and David Ospina to the defensive side of the squad while the biggest headline signing has come at the other end of the field.
Alexis Sanchez sealed his £35million move from Barcelona earlier in the summer giving Arsenal fans renewed optimism they can challenge the likes of City and Chelsea at the top of the Premier League table this campaign.
A win over the reigning champions would be an ideal start to the season for Arsene Wenger, especially after penning a new deal which will keep him at the club until 2017.
Arsenal are available at a top price of 12/5 (3.40) with Paddy Power to win the game in normal time but any customer signing up for a new account will be able to secure a price of 7/1 (8.0), an offer sure to appeal to value hunters in the season's curtain-raiser.
For those who already have an account, there are a number of Money Back Specials on offer from the Irish bookmaker. Existing customers can pick their own Money Back Special trigger from four options including if Alexis Sanchez scores first or if Manchester City win on penalties.
Anyone without a Paddy Power account who wants to take advantage of these offers can sign up for one here.
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|New Paddy Power customers can back Manchester City at 9/2 or Arsenal at 7/1 with Paddy Power|
Jim Knight is Chief Betting Editor at Goal.com and has been tipping football games since he was old enough to place a bet. He is a Leicester City fan, writer and member of the We Are Going Up Podcast