Despite the huge difference in the class of teams, the quotes for the first game are quite interesting:
9,80 - 5,00 - 1,32
I see a clear hint here that the bookmakers are not sure that City will try to win this game or try at all. If this was a "necessary" game for City they would be listed as 1.05-1.1.
There is a great temptation to bet on Copenhagen or Copenhagen double chance (the odds compensate for the risk), but it seems to me more profitable to wait for the result of the first game and if it is successful (Copenhagen win or draw) then bet on City in the second game.
I don't think that there has ever been a game in the knockout rounds of the Champions League where the bookies gave odds to the team playing away from home lower than 1.1. Everyone who saw how Copenhagen played against Bayern Munich at home, knows that this isn't going to be 0-5 for Manchester City without any effort. The 1.32 rather reflects the possibility that this game has a chance to end in a draw. I don't believe Manchester City will be beaten, but a draw can always happen. I guess that is what the bookies take into account here and the performances from the group stage.
Hmm... maybe you're right, but let's check in the return game - I think that the odds there will be exactly the same as I assumed. As for the games in the group, they don’t mean anything at all, in most groups everything is clear right away and the favorites don’t worry about their place in the 1/8. Even in the death group F, what can be said based on its results? That Dortmund is stronger than PSG and Milan?
I think the odds does not reflect the strength of Copenhagen, but the fact that City will not strain itself - like last year with Leipzig (1-1, and then 7-0).