The holders certainly have the most favourable semi-final draw, having been paired with Burton Albion.
Burton are understandably the rank outsiders at 100/1 (101.0) in the Carabao Cup winner market. The Brewers have got the better of Aston Villa, Burnley, Nottingham Forest and Middlesbrough in what has been a fantastic cup run for the League One outfit.
Nigel Clough's men have already upset the odds to reach this stage, but their task is about to get even tougher as they face the Premier League champions over two legs.
City are just 1/20 (1.05) to win the first meeting at the Etihad with Burton available at 40/1 (41.0) with bet365 to spring another huge shock. The draw is an 18/1 (19.0) chance for those who believe the visitors can stifle a side that won 7-0 against Rotherham in the FA Cup over the weekend.
While one semi-final is something of a mismatch according to the odds compilers, the other is anything but.
The pair sit third and fourth in the Premier League table and clashes between the London clubs have been well matched in recent years.
The last 10 meetings in all competitions have seen each team win on four occasions with the other two ending level. Spurs have come out on top in the two most recent clashes though, each by a 3-1 score line.
Mauricio Pochettino's men will have home advantage in the first leg and are 11/10 (2.10) to win their third straight match against the Blues. The visitors are 5/2 (3.50) to win at Wembley with the draw an industry-best quote of 11/4 (3.75) at the time of writing.
Odds correct at the time of writing. Please gamble responsibly.