I am surprised when I see that PSG have a better chance of winning against Liverpool than Liverpool! How is this possible?
As you said that's because PSG will play at their home stadium.
Bookmakers believe that PSG has a higher chance to win the first leg, but when it comes to probablity of advancing to the quarter finals, Liverpool is more favored than PSG.
The odds for liverpool to qualify for the next round are 1.57 while the odds for them to win the first leg are 2.9
I would say that if PSG can win the first leg then the team will be able to qualify for the quarter finals. However if the first leg match is drawn or Liverpool can win then PSG will not be able to qualify for the next round.
Liverpool's performance in the first round was very strong. Even then PSG is considered as the favorite in this match. It is expected that Luis Enrique's team will perform well in the home match. However, it is not possible to say for sure that PSG will win. We do not always see the favorite teams winning. Liverpool team is strong and their match strategy is also very good. However if Luis Enrique can find the weaknesses of Liverpool's defense then PSG has a chance to win.