The Gunners' comeuppance for failing to avoid defeat against Napoli on matchday six is the nightmare draw of Bayern Munich in the last 16, which leaves them as considerable 40/1 (41.00) outsiders with BetVictor to end their hunt for Europe's most prestigious title next May.
|Champions League outright
|Odds from BetVictor
However, had Manuel Pellegrini got his maths correct instead of settling for a 3-2 win at the Allianz Arena, then Manchester City could have replaced the Germans as top seeds going into Monday's draw, thereby avoiding their difficult clash against Barcelona.
As it is, Pellegrini's men are 18/1 (19.00) long shots to go all the way, while their Spanish opponents are available at 5/1 (6.00) to claim their third title in the space of six years.
Despite failing to impress during the group stages, Chelsea's reward for finishing in first place is a tie against Galatasaray that leaves them at 12/1 (13.00) to regain the title they surrendered meekly last season, while their Turkish opponents are on offer at 200/1 (201.00) after ousting Juventus.
Manchester United also proved the benefits of finishing top of the pile in the group stages after being drawn against rank 500/1 (501.00) outsiders Olympiakos, leaving David Moyes at 14/1 (15.00) to endear himself to the fans with the club's fourth European Cup win.
Borussia Dortmund's late win in Marseille sealed top spot in Group F and left them facing a last 16 clash against 200/1 (201.00) underdogs Zenit St Petersburg, with last season's runners-up available at 12/1 (13.00) to go one better this season.
Paris Saint-Germain are 14/1 (15.00) dark horses after breezing through to the knockout stages, where they will take on a Bayer Leverkusen 200/1 (201.00) side that conceded nine goals in their two games against Manchester United.
Atletico Madrid are available at 16/1 (17.00) after easing through their group in second gear, with last 16 opponents AC Milan unlikely to fly the flag for Italy particularly impressively as 50/1 (51.00) outsiders.
However, having tipped Real Madrid to lift the trophy before the tournament began, Carlo Ancelotti's men look firmly on course for la Decima after their imperious group stage campaign leaves them facing an inconsistent Schalke 250/1 (251.00) team, and odds of 9/2 (5.50) still offer excellent value on them winning the trophy for the first time in over a decade.
|Real Madrid to win the Champions League for a 2pt stake at 9/2 (5.50) with BetVictor
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Al Hain-Cole is a Liverpool fan, experienced tipster and avid follower of European football. He specialises in accumulators and if you would like to read more from Al you can follow him on Twitter here.