Even a favourable group stage draw didn’t shorten Liverpool’s odds, with the online bookmaker refusing to budge after Jurgen Klopp’s men got placed in Group E with Sevilla, Spartak Moscow and Maribor.
Liverpool’s position as outsiders seemed justified when they drew their first two matches of the tournament despite being odds-on favourites in both, with a stalemate in Russia landing at odds of 19/5 (4.80). They were now out at a forgettable 40/1 (41.0) to win the competition.
A pair of wins over Maribor, including a 7-0 victory in Slovenia which was a 50/1 (51.0) shot in the correct score market, put the Reds back on track, and they looked good value at 7/5 (2.40) to win in Sevilla but surrendered a 3-0 lead to come away with only a point.
Another 7-0 demolition followed - this time at home to Spartak - and thanks to Sevilla’s inconsistency, the Reds topped the group. This was crucial as they would get drawn to face Group G runners up Porto, with the Merseysiders subsequently cut to a respectable 16/1 (17.0) in the outright market.
They were still 10/1 (11.0) as the field was cut down to just eight sides, though, and they were then edged out to 12/1 (13.0) after the luck of the draw revealed a mouthwatering tie with Manchester City.
Interestingly, this was the first time Liverpool were installed as underdogs in any match. Klopp’s men were 12/5 (3.40) to qualify, compared to City at 3/10 (1.30), whilst the first leg at Anfield saw the hosts priced as 21/10 (3.10) outsiders.
However, a famous 3-0 win followed and suddenly the Reds were 11/2 (6.50) to lift the Champions League. Although they conceded after just two minutes in the return leg, Liverpool defied 19/4 (5.75) odds to win on the night and book their place in the semi-finals.
In fact, they were also 4/11 (1.36) to make it to the final in Kyiv – odds which were slashed to 1/20 (1.05) when the Reds triumphed 5-2 in the first leg at Anfield. Even in the Italian capital, Liverpool were favourites on the night at 6/4 (2.50) but fell 4-2 to a Roma side priced at 8/5 (2.60) in the match odds market.