Arsenal 16/1 for CL glory
Arsenal are 16/1 with Sky Bet to win the Champions League after a 2-0 defeat at Napoli on Wednesday night denied them top spot in Group F.
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With Borussia Dortmund beating Marseille in the night's other game, the German outfit leapfrogged the Gunners, who will now be pitted against one of the eight group winners in Monday's last-16 draw.
Nevertheless Arsenal will be relieved just to be in the knockout stages having avoided the 3-0 scoreline which would have seen Napoli progress and Arsenal drop into the Europa League.
Dortmund, who needed Kevin Grosskreutz's winner four minutes from time to go through, are now a best of 14/1 while Napoli enter the Europa League betting at 9/1 with Betfred.
So with the final 16 teams now known, Bayern Munich head Sky Bet's outright betting at 5/2 while Barcelona and Real Madrid are next in the running at 9/2 and 11/2 respectively.
The English quartet of Manchester City (14/1), Chelsea (14/1), Manchester United (16/1) and Arsenal (16/1) are grouped in with the next batch of sides regarded as realistic contenders along with PSG (14/1) and Atletico Madrid (14/1).
AC Milan are 50/1 after sneaking into the last 16 at the expense of Ajax while Bayer Leverkusen (100/1), Zenit St Petersburg (150/1), Galatasaray (100/1), Schalke (150/1) and Olympiacos (300/1) are the other sides in the hat.
The group winners will be drawn against the group runners-up on Monday at 1100 GMT. Teams from the same country will not be allowed to face each other in the last 16; neither will teams who met in the group stage.
Zenit St Petersburg