Are we talking about the odds that bookmakers provide or are we talking about our personal opinions? Considering how these two teams have been playing, if somebody asked me whether I put my money on Atalanta or on Real Madrid if I had to, I would without a doubt go with Atalanta. It is a home game in Bergamo for them, Real Madrid has to leave half their team at home because of injuries, Mbappe isn't performing and they are out of alternatives. No question for me, Atalanta is the slight favorite in this game.
Atalanta are not as strong as Liverpool, so I still think they will share the points with Real Madrid. I don’t mean to belittle Atalanta impressive record in the Champions League this season, and I don’t want to ignore the half-dozen injuries to Ancelotti key players, but I am trying to see Real Madrid as a team with a number of quality rotation options. Atalanta failed to score against Arsenal and Celtic, which is something to consider. Besides, Ancelotti is no stranger to the Serie A side, and he has plenty of experience of facing them. When Real Madrid are under pressure, they can almost always turn things around, especially in the Champions League.