In a rematch of last year's Finals, European powerhouses Liverpool and Real Madrid will meet this time in the UEFA Champions League knockout round. Join us as we continue our Champions League odds series, where we make our Liverpool-Real Madrid prediction and pick while showing you how to watch.

Liverpool is entering the first leg of the Champions League Round of 16 with two wins earned over Everton and Newcastle United. Revenge is definitely on the Reds' mindset as they hope to avenge last year's defeat against the Whites.

Current La Liga champions Real Madrid are presently second in their domestic league, but they enter this game fresh off a Club World Club Championship trophy and two wins over Elche and Osasuna. Los Blancos hope to retain their crown but they will have to face last year's finalists.

Here are the Liverpool-Real Madrid soccer odds, courtesy of FanDuel. 

Champions League Odds: Liverpool-Real Madrid Odds

Liverpool: +130

Real Madrid: +210

Draw: +240

Over 2.5 Goals: -138

Under 2.5 Goals: +114

How to Watch Liverpool vs. Real Madrid

TV: CBS, DAZN, SiriusXM FC, TUDN USA, Univision

Stream: fuboTV, Paramount+, TUDN App, Univision NOW, ViX+

Time: 3 PM ET / 12 PM PT

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Why Liverpool Can Beat Real Madrid

It has been an up-and-down season for Liverpool. They are currently eighth in the Premier League and their runs in the EFL Carabao Cup and FA Cup came to an end. Aside from earning the Community Shield to open the 2022-23 season, this will be the Reds' sole chance to hoist another trophy. Despite some shortcomings in their domestic campaign, the Reds should still be considered the favorites in this competition. Their run was incredibly impressive, tying with Napoli for points but they had to settle for second place in Group A. Given their roster and their form, Liverpool hopes to snatch their sixth Champions League title.

Liverpool's recent win over Newcastle United saw the Reds demolish the strongest defensive team in England in this Premier League campaign. Early season acquisition Darwin Nunez and January signee Cody Gakpo found themselves on the scoresheet for Liverpool. It would have ended in a 3-0 win from a long pass by Alisson Becker to Mohamed Salah, but the Magpies' Nick Pope submitted a red card after going for a handball outside the goalkeeper's box.

The key to Liverpool's win here is to replicate their group-stage performance. They have fielded 17 goals in six matches, 12 of which came from assists. They are also tallying 18.2 total shots and 7.7 corners per game. These stats should see a significant boost, especially with the amazing display of Gakpo, Nunez and Salah, as well as the improvements of Stefan Bajcetic, Trent Alexander-Arnold, and Harvey Elliott.

Another key for Jurgen Klopp's squad to win the match at Anfield is their ability to press very high and to do it over the course of the entire game. Real Madrid has struggled at times with this type of play. Thus, Liverpool should utilize this strategy and Real Madrid might not have a way out of it.

Luis Diaz, Ibrahima Konate, Thiago Alcantara, and Calvin Ramsay make up Liverpool's confirmed absentees, while Arthur is still a doubt as he recovers from thigh surgery. Diogo Jota and Roberto Firmino should also see time as substitute forwards.

Why Real Madrid Can Beat Liverpool

The Los Blancos hurdled through Chelsea, Paris Saint-Germain, Manchester City, and Liverpool last year to capture their 14th European Cup title, making them the most successful club in European Cup history. Despite a drop in form in the previous matches to start 2023, Real Madrid is still imposing itself as one of the most feared squads around Europe.

They are hoping to retain their La Liga title despite an eight-point gap by Barcelona. Although they lost the Supercopa de Espana to Barca, Real Madrid still boasts of two trophies already earned in this campaign – the UEFA Super Cup which the squad won against Europa League champions Eintracht Frankfurt and the Club World Cup earned against Al-Hilal Saudi. Los Blancos topped Group F over the likes of RB Leipzig, Shakhtar Donetsk and Celtic.

After snatching two wins in the Club World Cup in Morocco, Carlo Ancelotti's squad secured their fourth successive win in all tournaments on Saturday, defeating Osasuna 2-0 in La Liga thanks to second-half strikes from Federico Valverde and Marco Asensio. Prior to that match, they had a 4-0 thumping against Elche, thanks to a Karim Benzema brace and goals from Asensio and Luka Modric.

Real will be making their fourth visit to Anfield. They lost the first game there in March 2009, suffering a humiliating 4-0 defeat, but the Vikings have not conceded a goal in their last two visits, winning 3-0 in October 2014 and drawing 0-0 most recently in April 2021. Carlo Ancelotti hopes to gain positive results, even though Toni Kroos, Aurelien Tchouameni, Ferland Mendy, and Mariano Diaz are out in this game.

Los Blancos expect to have Benzema on the pitch against Liverpool after sitting out the last game against Osasuna. The 35-year-old French striker has not scored in four Champions League matches but is tied for second in La Liga with 11 goals in 13 contests. Aside from the current Ballon d'Or holder, Real Madrid still has Vinicius Junior, who has logged seven goals and four assists in 21 La Liga appearances. The 22-year-old Brazilian winger leads Los Blancos with four goals during Champions League play. Rodrygo, also a winger from Brazil, has scored three times in the competition.

Final Liverpool-Real Madrid Prediction & Pick

With a Liverpool squad gaining momentum and a Real Madrid team that is hungry for another trophy, this will be a goal-scoring feast with both teams settling for a draw.

Final Liverpool-Real Madrid Prediction & Pick: Draw (+240), Over 2.5 goals (-138)