Drawn against relegation-battling Southampton 16/1 (17.00) in the semi-finals, Antonio Conte’s men are now 6/4 (2.50) favourites with SportPesa to salvage what has been a disappointing season with some domestic silverware.
The Saints saw off giant killers Wigan Athletic in their first game under new boss Mark Hughes, although are likely to be more preoccupied with preserving their top flight status than any cup heroics.
Runners-up to Arsenal in last season’s final, the Blues look like a strong bet to go one better by taking home the trophy for the first time since 2012.
Their chances have certainly been improved by avoiding Tottenham and Manchester United, who have been drawn together in the other semi-final.
Having adopted Wembley as their temporary home ground for this campaign, Spurs are seen to have a slight advantage when they meet Jose Mourinho’s team there to compete for a place in the final.
After winning each of the last three encounters between the sides not played at Old Trafford – including at Wembley in January’s Premier League clash – Mauricio Pochettino’s men are available at 2/1 (3.00) to come out on top in the semi-final and go all the way in this competition.
However, the Red Devils have proved a strong contender in the cups under Mourinho, winning both the League Cup and Europa League last season.
With this in mind, their current 5/2 (3.50) price offers plenty of temptation on them getting their hands on more silverware in what promises to be an extremely keenly-fought contest for FA Cup glory.