Manchester City go into the EFL Cup round of 16 as third favourites to lift the trophy.

City's tough draw away at Manchester United has seen them drop behind Liverpool and Arsenal in the betting markets and Pep Guardiola's side are now 5/1 to win the competition (Sky Bet).

Jurgen Klopp's side were drawn at home to Tottenham, but are handed odds of 9/2 to win the tournament - the same odds given to Arsene Wenger's side who host Reading this evening.

WATCH: Town players celebrate win over Derby County with the fans (courtesy of Sammy Johnson)

Video thumbnail, WATCH: Town players celebrate win over Derby County with the fans (courtesy of Sammy Johnson)
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WATCH: Huddersfield Town celebrate last-gasp Derby victory

Chelsea sit fourth favourites at Sky Bet at 11/2, with Jose Mourinho's United slightly further out at 6/1.

Newcastle United and Norwich City are the only Championship clubs to be given shorter odds than 100/1, with Rafa Benitez's Toon at 22/1 and the Canaries at 50/1.

You can also get any Football League team to win the EFL Cup at 11/2, with any Premier League side 1/10.

Here are the full odds, courtesy of Sky Bet:

Arsenal - 9/2

Liverpool - 9/2

Manchester City - 5/1

Chelsea - 11/2

Manchester United - 6/1

Tottenham - 11/1

Southampton - 14/1

Newcastle - 22/1

West Ham - 25/1

Sunderland - 50/1

Hull - 50/1

Norwich - 50/1

Reading - 100/1

Bristol City - 100/1

Preston - 100/1

Leeds - 100/1