As the excitement of a new football season unfolds, anticipation is high for the drama and glory that the FA Cup competition promises. The upcoming 2023/24 season is brimming with potential storylines as reigning champions Manchester City look to defend their crown while a host of challengers like Liverpool, Arsenal, Newcastle United, and Manchester United eye the coveted trophy. However, it’s the FA Cup, so a challenger could emerge from the lower leagues and reignite the magic of the cup.

Not only will the season see new signings hoping to prove their worth, but also managers strategising to outwit their opponents. This guide will delve into the details of the favourites, focusing on each team's transfer activity, recent performances, and the latest FA Cup winner odds provided by the best UK betting sites.

2023 FA Cup Winner Odds

Manchester City - 3/1

Liverpool - 8/1

Arsenal - 8/1

Newcastle United - 10/1

Manchester United - 10/1

Manchester City

Pep Guardiola’s side are the reigning FA Cup champions, and bookmakers have made them the favourite in the FA Cup winner odds market at 3/1. The Cityzens might look slightly different this season without captain Ilkay Gundogen and Riyad Mahrez.

Still, with goal-scoring behemoth Erling Haaland leading the line, the Barnsley Beckenbauer, John Stones reinventing the full-back role, World Cup winner Julian Alverez chipping in with goals, and tenacious defensive midfielder Rodri patrolling the midfield, we think they’ll be okay.

The Cityzens have made moves for Mateo Kovačić to replace Gundogan, while versatile defender Josko Gvardiol has replaced Saudi-bound Aymeric Laporte.

Guardiola’s moves signify that he doesn’t intend to change tactics in 2023/24. If you’d just won the FA Cup, Premier League, and Champions League treble, would you change anything?

Liverpool

Liverpool began a period of transition last year. Jurgen Klopp and co used the departure of Sadio Mane to upgrade and reconfigure their attack through the signing of Darwin Nunez and Cody Gakpo. The team struggled in patches with integrating undoubtedly talented but young and inexperienced players into the starting lineup.

This wasn’t always the case, as the 7-0 victory over Manchester United attests, but there was something different about the Reds in 2022/23. This season, the focus has shifted to the middle of the park, forced by the departure of Jordan Henderson and Fabinho to the Saudi Pro League.

Dominic Szoboszlai and World Cup winner Alexis Mac Allister have joined from RB Leipzig and Brighton, respectively, to fill the gaps. While a second Premier League title seems beyond the men from Anfield, an FA Cup triumph is within reach. Subsequently, UK betting sites have priced Liverpool at 8/1 to lift the trophy next term.

Arsenal

After finishing as runners-up in the Premier League last year, Mikel Arteta’s Arsenal side hopes to pick up some silverware in 2023/24, and the FA Cup could provide a good avenue for this. Consequently, some of the best UK betting sites have priced Arsenal as the joint-second favourite at 8/1, with some going slightly longer at 9/1.

Much of this is thanks to the arrival of Declan Rice, a massive transfer coup for Arsenal, who signed for £105 million in the summer. The Gunners have upgraded their midfield across the board: Kai Havertz joined from cross-city rivals Chelsea in a £60 million deal and has been brought in to play alongside Rice in the midfield.

With Havertz and Rice supporting Martin Ødegaard in the central playmaker role and Bukayo Saka and Gabriel Martinelli hugging the touchline, the Arsenal midfield could be next year's most exciting central unit in the FA Cup.

Newcastle United

By the time of the 2024 FA Cup Final, it will have been 69 years since Newcastle United won the trophy. Depending on the outcome of the League Cup, it will be 69 years since the Magpies won any major trophy (no, Newcastle fans, we neither count the 2007 Intertoto Cup triumph nor the 1973 Anglo-Italian Cup). Surely Amanda Staveley, the club’s Saudi owners, and Eddie Howe’s main priority should be ending that drought?

In pursuit of the end of the silverware drought, Newcastle have yet to make a swath of moves in the market, preferring to let January signings, like Alexander Isak and Anthony Gordon, bed into the squad. To become FFP compliant, they have sold Allan Saint-Maximin to Saudi side Al-Ahli. The major recruit is AC Milan defensive midfielder Sandro Tonali, who joined for around £60 million to partner Bruno Guimarães in the centre of the park, and Harvey Barnes, brought in to replace ASM. Bookmakers are impressed and have priced Newcastle as the fourth-favourite to win the FA Cup at 10/1.

Manchester United

Last year’s FA Cup runners-up are suffering some off-field turmoil with the ongoing takeover bid, but on the pitch, Erik ten Hag has steadied the ship and turned Manchester United into a coherent attacking side. There were some shaky moments, most notably the 7-0 thrashing by Liverpool. Still, a Top 4 finish, League Cup victory, and FA Cup final appearance represented a promising start to the Dutchman’s tenure with the Red Devils.

This off-season, boardroom drama exempt has delivered for United fans, with the arrival of Mason Mount from Chelsea, Rasmus Højlund to solve the long-running goalscoring issue, and Andre Onana between the sticks to replace long-serving shot-stopper, David de Gea.

With ten Hag looking to continue the progression made last season, it will be interesting to see if the FA Cup is a priority with the extra fixture congestion the Champions League brings. If you think they’ll go one better and pick up the cup in May 2024, you can get between 8/1 and 10/1 on the Red Devils snatching the FA Cup from rivals City.

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