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The Premier League season kicks off later this week, and odds continue to fluctuate as movement in the transfer market takes place. Manchester City, runners up last season to Liverpool, enter the season as the favorites -- even without Lionel Messi. Meanwhile, Chelsea have the third-best odds with their massive summer spending spree raising expectations. 

Newcomer Leeds United have a lot of hype around them with Marcelo Bielsa leading the club, as the former Premier League staple have the 11th-best odds in the entire league.

But what are the odds for each team? Here they are and three takeaways:

Premier League 2020-21 title odds

(via William Hill Sportsbook)

Manchester City (-138)
Liverpool (+200)
Chelsea (+1100)
Manchester United (+1200)
Arsenal (+4000)
Tottenham (+5000)
Leicester City (+10000)
Wolves (+10000)
Everton (+15000)
Southampton (+20000)
Leeds (+20000)
West Ham (+50000)
Burnley (+50000)
Sheffield United (+50000)
Brighton (+50000)
Crystal Palace (+75000)
Newcastle (+75000)
West Brom (+100000)
Fulham (+100000)
Aston Villa (+100000)

Takeaways

Why City are the favorites: Some may feel that Liverpool should be the favorite, but here you have a City team that is loaded and hungry, and one that should be able to find some more consistency this season. When in top form, there is no team better in the attacking half. The odds makers expect City to bounce back in a big way and win the Premier League title, and it feels more than likely if the defense shows up.

Chelsea a good value: Whether Chelsea can actually win the league remains to be seen, but with Timo Werner, Hakim Ziyech, Christian Pulisic and others, this team on paper certainly has enough ... if they figure out the goalkeeping situation. With Thiago Silva now in defense, Frank Lampard's team seems like a longer shot, but it wouldn't be all that surprising to see them in the title fight.

The one darkhorse is...: It is almost impossible to find the next Leicester City, but what is the one team that feels like, in your wildest of dreams, could spring a surprise and win the league? If I had to pick, I would say Wolves at 100/1. This is a true team, one that presses, works hard, stays organized and has top-four potential. Now, if you have top-four potential, you have a chance. They have proven to be able to get results against the big teams, but the concern is being able to handle all four competitions and actually contend in the Premier League. It seems impossible, but so did Leicester winning the league.