LIVERPOOL have been cut to 7/1 from 25/1 to win the Champions League after their impressive victory against Barcelona.

The Reds, who triumphed 2-1 thanks to goals from golf partners Craig Bellamy and Jon Arne Riise, are now 2/9 to qualify for the next round.

Chelsea have been trimmed to 7/2 from 4/1 and are the new favourites for the trophy after Jose Mourinho returned to his old club Porto and secured a score draw.

Ladbrokes spokesman Robin Hutchison said: "It was a better night for the bookies than the punters given the number of draws which knocked out many of the accumulators.

"But Liverpool backers were rewarded with a nice little earner and we're now staring down the barrel of a £10,000 pay out on them qualifying for the next round after laying them at 2/1 if they do the business in the return leg."

Antepost favourites and reigning champions Barcelona, who now need to net twice without reply at Anfield, are 12/1 from 7/2 to retain their crown

LATEST BETTING

Champions League 2006/07

Winner

Chelsea 7/2
Man Utd 9/2
Liverpool 7/1
Lyon 7/1
Valencia 11/1
Barcelona 12/1
Inter Milan 12/1
Arsenal 14/1
Real Madrid 14/1
AC Milan 14/1
Bayern Munich 22/1
Roma 33/1
PSV Eindhoven 40/1
Porto 66/1
Celtic 66/1
Lille 200/1

To qualify

Liverpool 2/9
Barcelona 3/1