Indeed just a couple of miles separate these two near neighbours, although in terms of almost everything else they are light years apart with Atleti enjoying the kind of European success in recent years of which Rayo could scarcely conceive.
Still, the idiosyncratic Estadio Vallecas is a great leveller and with Rayo enjoying one of their best ever runs in the top flight having won five of their last six home games, the price of 5/2 (3.50) offered by Bet365 for them to extend their winning home record may appeal to some.
Meanwhile, Atletico's success this season has been based largely on defensive solidity and efficiency in front of goal are offered at 11/10 (2.10) with the draw available at 23/10 (3.30).
However, despite sitting in second place in the league table and having progressed to the knockout stages of the Europa League and the semi finals of the Copa del Rey respectively, Atletico's away form of late has been far from impressive.
They were roundly beaten in their last away match 3-0 by Athletic Bilbao and have only won one of their last 10 matches away from the Vicente Calderon in all competitions.
Backing them on the match odds then, holds little appeal despite their theoretical superiority over the opposition. Instead backing both teams to score at 8/11 (1.72) looks a sound investment, with Atleti having scored in 11 of their last 13 matches, and Rayo having netted in six of their last seven games.
For a value bet back Rayo's cult forward Piti to score at any time offered at 12/5 (3.40). With five goals in his last six games the 31-year-old has been playing some of the best football of his career and the odds of 12/5 (3.40) for an in form striker to score at home at any time look too good to turn down.
|Both teams to score at 8/11 (1.72) with Bet365
||Piti to score at any time at 12/5 (3.40) with Bet365|
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Phil Kitromilides is a sports anchor working on TV in Madrid. You can also follow Phil on Twitter.