From the group stage to the final, 99bwin covers every CONMEBOL Copa Libertadores match with competitive odds, live markets, tip analysis and real-time score updates. Bet on Brazilian clubs and all the favorites with instant Pix.
The CONMEBOL Copa Libertadores is the most important club competition in South America and, for Brazilian fans, one of the most exciting fixtures on the sporting calendar. Watching Flamengo, Palmeiras, Atlético-MG, or Grêmio push through the round of 16, the quarterfinals, and into the final is the kind of thing that stops every Brazilian in their tracks. And at 99bwin, every match becomes a chance to make money by betting smart.
Unlike the Brasileirão, where you know the teams inside out, the Libertadores throws up the challenge of facing Argentine, Uruguayan, Colombian and Paraguayan clubs with very different styles of play. That's exactly why having reliable analysis makes all the difference before putting money on the line. You'll find everything here: updated schedule, live odds, well-grounded tips and a wide range of markets for every stage of the tournament.
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Updated odds for the tournament champion — who are you backing?
Betting on the Libertadores is different from betting on the Brasileirão, and understanding those differences can be the line between long-term losses and long-term gains. At 99bwin, we always guide bettors to adjust their analysis based on the tournament context — group stage, two-legged knockout or single-match final, each format has its own dynamics that change everything.
In the group stage, for example, Brazilian clubs tend to manage things much better. They have bigger budgets, deeper squads, and are well used to high-pressure matches from the Brasileirão. As a result, Brazilian clubs typically dominate their Bolivian, Paraguayan and Peruvian opponents early in the tournament, which creates solid opportunities in the match result and total goals markets.
Once we hit the Round of 16 and quarterfinals, the picture changes completely. That's where the Argentine giants come in — Boca Juniors, River Plate, Racing, San Lorenzo — and the matchups get a lot tighter. The Monumental de Núñez and the Bombonera are intimidating venues even for the biggest clubs in Brazil. The home crowd pressure in Argentina is a real factor, so for first-leg games played there, the tip from 99bwin is to lean toward defensive markets like under goals or draw as the less likely outcome for the Brazilian side.
The go-to market. In early-round matches where Brazilian sides are favorites, it can offer solid value with odds around 1.60–1.80.
In knockout stages with evenly matched sides, this market tends to hit at a good rate with odds ranging from 1.75 to 2.10.
Under 2.5 in Libertadores semifinals and finals has a historical hit rate above 60%. High-pressure games tend to be tighter affairs.
Great for second-leg matches. If the Brazilian side won the first leg by 1 or 2 goals at home, the qualification odds tend to offer excellent value.
High odds with solid return potential. Strikers from favored teams that reach the quarterfinals account for the majority of the chances.
To balance uneven group-stage matchups. Betting on the favorite's -1.5 handicap when they're clearly the stronger side can often be more profitable than a straight 1X2 bet.
Looking at the last 10 editions of the Libertadores, Brazilian clubs have claimed the title 7 times — a clear sign of their financial and technical edge in the competition. Flamengo, Palmeiras, Fluminense, Santos, and Atletico-MG all lifted the trophy during that stretch. This track record shapes the odds, and sportsbooks typically open conservative lines for Brazilian sides in knockout ties.
In the 99bwin, we cross-reference that historical data with each team's current form to spot where real value exists in the odds. If a Brazilian side is on a strong run in the Brasileirão and faces an Argentine opponent coming off a patchy campaign, the Brazilian's win odds may be underpriced — and that's the opportunity. That's exactly the kind of analysis our team publishes daily in the Tips.
Brazil dominates South America's most important tournament
| Year | Champion | Country | Runner-Up | Final Score | Venue |
|---|---|---|---|---|---|
| 2026 | 🔴⚫ Atlético-MG | Brazil | Botafogo | 3 – 1 | Buenos Aires |
| 2023 | 🔴⚪ Fluminense | Brazil | Boca Juniors | 2 – 1 | Rio de Janeiro |
| 2022 | 🟢⚪ Flamengo | Brazil | Athletico-PR | 1 – 0 | Guayaquil |
| 2021 | 🟢⚪ Palmeiras | Brazil | Flamengo | 2 – 1 | Montevideo |
| 2020 | 🔴⚫ Flamengo | Brazil | River Plate | 3 – 1 | Lima |
| 2019 | 🔴⚫ Flamengo | Brazil | River Plate | 2 – 1 | Lima |
| 2018 | ⚪🔴 River Plate | Argentina | Boca Juniors | 3 – 1 | Madrid |
Brazil has won 6 of the last 7 Copa Libertadores titles — absolute dominance in South American football.
Real advantages for bettors who want to go beyond the basics
Watch the odds shift in real time throughout every Libertadores match. Find value in the swings as each game unfolds.
Final result, goals, corners, cards, top scorers, Asian handicap, and much more. Full freedom to pick the market that offers the best value.
Won a bet on Flamengo? Your withdrawal lands in your Nubank, Itaú, or Bradesco account in under 5 minutes via Pix, any day of the week.
Our team publishes in-depth analysis before every major Libertadores match, complete with stats, head-to-head history, and well-grounded picks.
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"I followed the entire Libertadores on 99bwin. The market variety is impressive — I bet on corners, top scorer and match result and got them all right in the Flamengo semifinal. I won R$ 1,850.00 in one night!"
"What I love most are the live odds. When Fluminense was losing 1–0 to Boca and the draw odds were at 3.20, I jumped in. It ended 1–1 and I walked away with R$ 640.00. You can't put a price on that."
"The 99bwin match previews for the Libertadores are seriously good. I read them before every game. I've nailed 5 picks in a row in the knockout stage. The app is fast and Pix hits instantly. Highly recommend."
Everything you need to know to bet smart on the tournament