Manchester City is the 9/4 favourites with Space Casino to retain the FA Cup after being drawn at home against Championship side Fulham in the fourth round.
Pep Guardiola's side got the defence of the trophy they won at Wembley last May up to and running by beating Port Vale 4-1 at the Etihad Stadium, and now they will face Scott Parker's Fulham, who are currently fifth in the Championship.
Premier League leaders Liverpool's reward for a 1-0 win against Merseyside rivals Everton is a trip to Bristol City or Shrewsbury, who will need a replay to decide their third-round tie.
Jurgen Klopp's side, who last won the trophy in 2006, is 9/2 second-favourites ahead of Chelsea, who face a trip to Hull City in the fourth round.
Tottenham, who are 17/2 to lift the famous old trophy in May, will be away at Southampton should they win their replay against Middlesbrough. Leicester, who have had a brilliant season so far are now 10/1 to win the FA Cup for the first time in their history after their third-round win against Wigan. Brendan Rodgers' side travels to Brentford in the next round.
Mikel Arteta's Arsenal will travel to Bournemouth following their victory against Leeds, while another all-Premier League clash sees Norwich face Burnley at Turf Moor.
Elsewhere, Should League One side Tranmere get past a replay against Watford, they will host either Manchester United or Wolves, who also require another game to settle their third-round tie.
Northampton is the lowest-ranked side left in the competition who are through to the next round and they will face Wayne Rooney's derby in the fourth round.
Manchester City: 9/4, Liverpool: 9/2, Chelsea: 8/1, Tottenham: 17/2, Arsenal: 10/1, Leicester: 10/1, Manchester Utd: 14/1, Wolves: 25/1, West Ham: 28/1, Sheffield Utd: 40/1, Southampton: 50/1, Newcastle: 50/1, Burnley: 66/1, Bournemouth: 66/1, Watford: 80/1, Sheffield Wed: 100/1, Norwich: 100/1, West Brom: 100/1, Brentford: 100/1, Birmingham: 125/1, Derby County: 125/1, Fulham: 150/1, Bristol City: 150/1, Millwall: 150/1, Cardiff City: 150/1, Queens Park Rangers: 200/1, Middlesbrough: 200/1, Reading200/1, Hull City: 200/1, Barnsley: 250/1, Coventry: 300/1, Oxford United: 300/1, Portsmouth: 400/1, Blackpool: 500/1, Bristol Rovers: 500/1, Shrewsbury: 750/1, Rochdale: 750/1, Tranmere: 1000/1, Carlisle Utd: 1000/1, Northampton: 1000/1
FA Cup fourth-round draw:
Watford or Tranmere Rovers v Wolverhampton Wanderers or Manchester United
Hull City v Chelsea
Southampton v Middlesbrough or Tottenham Hotspur
Queens Park Rangers v Sheffield Wednesday
Bournemouth v Arsenal
Northampton Town v Derby County
Brentford v Leicester City
Millwall v Sheffield United
Reading or Blackpool v Cardiff City or Carlisle United
West Ham United v West Bromwich Albion
Burnley v Norwich City
Bristol Rovers or Coventry City v Birmingham City
Manchester City v Fulham
Rochdale or Newcastle United v Oxford United
Portsmouth v Barnsley
Bristol City or Shrewsbury Town v Liverpool