With no chance of a top four finish ensuring Champions League football next season, this is the last chance for Wenger to finish his time at the club on a relative high, having been knocked out of both domestic cup competitions.
dabblebet are 3/1 (4.0) about Arsenal winning the tournament in their latest Europa League odds so such an outcome is far from a long shot.
dabblebetHowever, to go all the way and secure a spot at Europe's top table next term, the Gunners will have to get the better of Atletico Madrid in the semi-finals.
Having twice been beaten finalists in the Champions League over the past four seasons, the Spanish side certainly have the recent European pedigree to back up the bookmakers' confidence in them.
Diego Simoene's men are 11/10 (2.10) favourites to win the Europa League and 1/2 (1.50) to qualify against Arsenal over the two-legged encounter that gets underway next Thursday.
The Gunners are 6/4 (2.50) to secure a spot in the final which takes place on 16 May in Lyon.
dabblebet also go 6/4 (2.50) that the Premier League side win the first leg clash between the pair which takes place at the Emirates Stadium. Atleti are 7/4 (2.75) to win in North London with a draw priced up at 11/5 (3.20) by the same firm.
Whoever emerges victorious will likely be favourite to get the better of Marseille (7/2) or Red Bull Salzburg (6/1) in France next month.
The attendances at recent home games have told their own story about how some sections of the Arsenal faithful feel about their outgoing manager.
Perhaps Wenger feels that clearing up any doubts about his future will reunite any disillusioned sections of the fanbase, although the odds suggest that Arsenal still have an uphill battle on their hands against one of the best teams on the continent if they are to compete with the heavyweights of Europe once again.
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