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Oddsmakers give City the best shot at winning Champions League. Getty

With the Round of 16 of the 2018 UEFA Champions League in full swing, a four-club race for the title appears to be developing with Manchester City, who are pursuing their first European title, owning a slight edge over the competition.

According to VegasInsider, Pep Guardiola's squad is the favorite at 3/1 odds. City has a big edge in the Premier League, leading second-place Manchester United by 16 points with 11 matches remaining. Based on their consistent play, City look poised to make a deep run.

However, three other clubs are not far behind. Perennial contenders Bayern Munich, Barcelona and defending champion Real Madrid all have 5/1 odds to win the title. The three clubs have won six of the last seven Champions League titles.

Paris Saint-Germain, who continue to build their European resume after a 5-0-1 record in group play, have the fifth-best odds at 8/1. Manager Unai Emery's squad is running away with the Ligue 1 title, so the club is expected to place considerable importance on winning a much-coveted Champions League title.

After PSG is a slew of English Premier Clubs. Liverpool (9/1), Tottenham (16/1), Manchester United (16/1) and Chelsea (28/1) have outside chances of winning the title. Chelsea was the last English club to win a Champions League after their improbable run in 2012.

Juventus, a finalist in 2017, have 25/1 odds, while Serie A rival Roma are not far behind at 33/1 odds.

The biggest longshots are FC Porto and FC Basel at 1,000/1.

2018 Champions League Betting Odds (Vegas Insider)

Manchester City, 3/1

Bayern Munich, 5/1

Barcelona, 5/1

Real Madrid, 5/1

Paris Saint-Germain, 8/1

Liverpool, 9/1

Tottenham, 16/1

Manchester United, 16/1

Juventus, 25/1

Chelsea, 28/1

Roma, 33/1

Sevilla, 100/1

Shakhtar Donetsk, 100/1

Besiktas, 150/1

FC Porto, 1000/1

FC Basel, 1000/1

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Real Madrid have a strong shot to repeat as champions. Getty