Maurizio Sarri's men beat Sparta Prague 4-3 at Stamford Bridge and 5-3 on aggregate to set up a semi-final clash with Einracht Frankfurt. The Blues will have home advantage in the second leg.
While they remain in the hunt for a top four spot in the Premier League, this competition provides a better chance of achieving a place in next season's Champions League according to the latest odds, albeit only marginally.
Both prices on the leading duo are current industry-best quotes from bet365 who appear keen to take on the Premier League pair.
A semi-final meeting with Valencia awaits Emery's side, with the first leg at the Emirates Stadium on May 2 before a trip to the Mestalla a week later.
Having trailed 4-2 going into the second leg, Adi Hutter’s men recorded a 2-0 win on home soil to seal their place in the final four on away goals.
bet365 customers can back an all-English final at 7/5 (2.40) by doubling the “To Qualify” odds on both Chelsea and Arsenal although a standalone market will also be available in due course.
Odds correct at the time of publish. Please gamble responsibly.