The Primera Division leaders are looking to bounce back from Sunday's draw with Valencia, which allowed Barcelona to close the gap at the top of the table to four points.
Atletico are also in a must-win situation as they lie in seventh position, six points adrift of the final Champions League spot, and Futre is hopeful that his former side will come out on top.
"I am betting on a 2-1 victory for Atletico," he told reporters. "On Wednesday, we will play a final because we are still dreaming about being in the Champions League.
"This will be a final for Atletico and a match to upset Madrid. We have not defeated them for many years and it is always special to beat Madrid."
Meanwhile, former Madrid goalkeeper Francisco Buyo noted that this match will be key for los Blancos after Sunday's draw, saying: "Madrid have lost the 10-point advantage they had.
"They are only four points above Barcelona and this match could make a big difference."
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