Carabao Cup Betting Odds 2026/27

The Carabao Cup fourth round is in full swing, and it has already produced one of the biggest shocks in the competition’s history. League Two Fleetwood Town knocked out Premier League champions Arsenal on penalties at Highbury on Tuesday night, while Bradford City also made the quarter-finals. Manchester City are the holders after beating Arsenal in the 2026 final, and Enzo Maresca’s side, who thrashed Norwich City 5-0 in round three, are now 9/4 favourites to retain the trophy ahead of Wednesday’s home tie with Brighton.

On this page, we’ve rounded up the latest Carabao Cup outright odds from the UK’s top bookmakers, along with the odds for each tie, with the fourth round concluding on Thursday 29 October and the quarter-finals scheduled for the week commencing 14 December.

Carabao Cup Outright Odds

The latest odds for the Carabao Cup’s outright winner can be found below, with holders Manchester City now favourites following the exit of last season’s beaten finalists Arsenal.

Carabao Cup Odds – Round 4

Fleetwood Town produced the upset of the season so far on Tuesday night. Aaron Loupalo-Bi gave the League Two side a first-half lead at Highbury, Viktor Gyökeres levelled five minutes after the break and Arsenal finished with ten men after 16-year-old Max Dowman was sent off late on. Fleetwood then scored all five of their penalties, with Jay Lynch saving from Bruno Guimarães before Conor Haughey sealed a 5-3 shootout win and a first ever quarter-final. Bradford City joined them in the last eight with a 2-0 home win over Peterborough United, Matt Gillesphey and Andy Phillips on target, meaning two clubs from outside the top two divisions are already through.

Liverpool v Chelsea at Anfield on Wednesday 28 October is the standout of the remaining ties, while City host Brighton at the Etihad the same night, three days before the two meet again in the Premier League. Bournemouth v Aston Villa, Fulham v Crystal Palace and Sunderland v Brentford also take place on Wednesday, before Everton v Newcastle completes the round on Thursday 29 October. In the outright betting, City are 9/4, Liverpool 3/1 and Chelsea 5/1, with Villa 10/1 and Newcastle 12/1, while Bradford are 80/1 and Fleetwood 100/1 to go all the way.

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Carabao Cup Favourites

Manchester City have a superb record in the Carabao Cup in recent seasons. Much of that was due to Pep Guardiola’s insatiable appetite for success, but they also won the trophy under Manuel Pellegrini in 2014, their first of seven in the timeframe since.

They defeated 2026 Premier League champions Arsenal in the final last season, and Mikel Arteta’s men will not get the chance to avenge that timid Wembley display after their shootout exit at Fleetwood. Liverpool have won this trophy twice in the past five seasons and Manchester United lifted it in 2023, though United were knocked out by Brighton in round three this time around.

Carabao Cup Outsiders & Dark Horses

Chelsea and Newcastle have poor cup final records in all, but both sides have won this competition since 2015. They may both be below the highest echelon in terms of the Premier League this season, but each is capable of mixing it with the best. Similarly, Swansea’s victory in the 2013 League Cup, defeating fourth tier Bradford City in the final, shows that anything is possible in cup competitions.

Previous Carabao Cup Winners