Bookmakers have slashed the odds for Arsenal winning the Champions League, but they're still not one of the favourites.
Arsenal’s odds for winning the Champions League have been cut by a staggering ten bookmakers (at the time of writing) on oddschecker following the draw for the last 16 of the competition earlier today.
The Gunners were handed a first knock out round tie against Monaco, as they dodged the European big boys.
Arsenal have been unfortunate in the recent past as they have been given some difficult last 16 fixtures in recent years, which has seen them struggling to make the later stages of the tournament.
Arsenal may remain underdogs when they come up against certain sides in the competition, but Arsene Wenger will back his team to win any tie over two legs in Europe.
Elsewhere, Chelsea (who play Paris Saint-Germain) and Manchester City (who play Barcelona) both saw their odds lengthen to win the Champions League in 14 places.
Both Chelsea (8/1) and Manchester City (18/1) retain shorter odds than Arsenal (25/1) to win the tournament outright, but the shift is a good reflection of the general feeling among bookies and fans following the draw.