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- Man City and Liverpool 4/1 joint favourites for the Carabao Cup.
- Arsenal 9/2 and Chelsea 6/1 also strongly fancied.
- Round Four highlights include Newcastle v Tottenham and a Welsh derby between Wrexham and Cardiff.
Man City and Liverpool Joint Favourites
The Carabao Cup is down to its final 16 teams following the conclusion of Round Three and bookmakers have installed Manchester City and Liverpool as 4/1 joint favourites to lift the trophy in 2026.
Both clubs have enjoyed a strong start to the campaign across all competitions, and with their squads stacked with depth, it’s no surprise to see them leading the market.
Pep Guardiola's men sailed into Round Four with a 2-0 win away to Huddersfield Town on Wednesday evening, with City making a whole host of changes to their side and giving youth a run out.
Liverpool needed an 86th minute winner against Championship side Southampton to edge through to the next round as Hugo Ekitike bagged then was sent off for a second yellow card after taking his shirt off in celebration.
BetVictor's latest market now gives an implied probability of 20% for both Manchester City and Liverpool's Carabao Cup chances this season.
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Carabao Cup Winner Odds 2025/26
| Carabao Cup Winner 2025/26 | Odds | Implied Probability |
|---|---|---|
| Manchester City | 4/1 | 20.0% |
| Liverpool | 4/1 | 20.0% |
| Arsenal | 9/2 | 18.2% |
| Chelsea | 6/1 | 14.3% |
| Newcastle | 9/1 | 10.0% |
Fourth Round Draw
The Carabao Cup Round Four fixtures are set, with several standout ties:
- Arsenal v Brighton
- Grimsby Town v Brentford
- Swansea City v Manchester City
- Newcastle United v Tottenham
- Wrexham v Cardiff City
- Liverpool v Crystal Palace
- Wolves v Chelsea
- Wycombe v Fulham
Ties to be played in the week of 27 October
Betting Insight
Manchester City’s record in the Carabao Cup, having won it six times since 2014, ensures they are always short in the market.
Liverpool, meanwhile, are hunting their eleventh EFL Cup success, the most of any side.
Arsenal at 9/2 look like the strongest outside challengers, particularly with Mikel Arteta keen to land silverware in multiple competitions.
Chelsea at 6/1 remain an intriguing bet given their attacking strength, while Newcastle (9/1) could be a dark horse to retain their EFL Cup trophy if they overcome Tottenham in Round Four.
What the expert says...
Where To Bet on the Carabao Cup
Punters can bet on outright Carabao Cup odds, Round Four fixtures, and special markets at BetVictor.
For more football betting options and sign-up deals, check out our guide to the best football betting sites, where you’ll also find the latest free bets and offers across UK betting sites.
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