Copa Libertadores – The History

The 2023 Copa Libertadores is under way, with clubs across South America dreaming of becoming champions of the continent. This is the 64th edition of the historic competition, and 32 teams from South America’s 10 nations are currently battling for a place in the knockout stage.

We have put together this handy guide to the Copa Libertadores, looking at the history of the tournament and predicting the outcome of this year’s edition.

History of the Copa Libertadores

The Copa Libertadores has grown in size and importance over the last few years, and it is increasingly common for sports bets to be placed on the tournament from around the world.

When the Libertadores began in 1960, it was a much smaller affair. Just seven teams took part that year, with Uruguayan outfit Penarol lifting the trophy after a victory over Olimpia of Paraguay in the final.

Since then 25 different sides have claimed the prize, including several on multiple occasions – such as Argentinian giants Boca Juniors and River Plate, and Brazilian powerhouses Flamengo and Palmeiras. Colo-Colo of Chile are among the one-time victors.

Countless world-class stars have graced the Libertadores, from Pele and Garrincha in the 1960s to Neymar and Vinicius Junior in the 2010s. Aside from the Brazilian contingent, the likes of Gabriel Batistuta and Angel Di Maria (Argentina), and Arturo Vidal and Elias Figueroa (Chile) have also played in South America’s premier competition.

Why Is the Libertadores Final No Longer a Two-Legged Tie?

From 1960 until 2018, the Copa Libertadores final was a two-legged tie, with both finalists playing one match at home.

The reason for this format was in large part because of the difficulty and expense of travel in South America. Very few supporters could afford to jet off to another country to watch a game, so having one leg at home guaranteed them a chance to see at least part of the final.

In the first few decades of the Libertadores, several finals actually featured three matches. That is because an aggregate scoreline was not used. Indeed, in modern times the result of a two-legged tie is usually determined by adding up the scores from both encounters.

But in the Libertadores’ early history, a victory of any kind in effect earned a team two points, while a draw was worth one point and a defeat brought zero points. At the end of the second leg, the points were added up – and if the teams were level, a play-off at a neutral venue was held to decide the overall victor.

For example, in 1976 Cruzeiro beat River Plate 4-1 in the first leg, before River Plate won the return fixture 2-1. Cruzeiro would have triumphed 5-3 on aggregate, but this system meant the tie was drawn because both sides had won one game each. Cruzeiro went on to win the play-off 3-2 at the Estadio Nacional in Santiago, Chile.

From 1989, if the scores were level at the end of the second leg, extra time and a penalty shoot-out determined the winner.

Ahead of the 2019 edition they moved to a single-match final, a decision which went down well with those who like to bet on Libertadores.

South American football’s governing body felt it would be able to market a one-off game more effectively as it would make the event feel more significant. There was also an issue of fairness to consider.

“Analysing the statistics from Libertadores finals, the team playing at home in the second leg wins seven times out of 10,” said Alejandro Dominguez, the president of the South American Football Conferderation. “Sporting justice demands a one-leg final on a neutral pitch.”

Which Teams Have the Most Copa Libertadores Titles?

Top Scorers of the Libertadores in the Last Decade

Which Copa Libertadores Final Had the Most Goals?

The highest-scoring single-leg Copa Libertadores finals were in 2019 and 2021. Flamengo beat River Plate 2-1 in the first of those matches, before the Brazilian side were beaten by their domestic rivals Palmeiras 2-1 two years later.

The two-legged Copa Libertadores final with the most goals was the 2008 edition. LDU Quito of Ecuador beat Brazilian side Fluminense 4-2 in a thrilling first leg, before Fluminense won 3-1 back in Rio de Janeiro. After 10 goals across two games, Quito held their nerve to win 3-1 on penalties.

If you include those that featured a play-off plus two legs, the highest-scoring Libertadores finals of all time were in 1966 and 1976, with 13 goals in total.

In the first of those seasons, Penarol beat River Plate 4-2 in the play-off after a 2-0 win and a 3-2 defeat. Ten years later, Cruzeiro edged out River 3-2 in the third game, following a 4-1 victory and a 2-1 loss.

Incidentally, in the history of the Libertadores only one team has scored five goals in a single game. That feat was achieved by Sao Paulo, who thrashed Chilean side Universidad Catolica 5-1 in the first leg of the 1993 final, before losing the return game 2-0.

The Biggest Underdog Stories in the History of Libertadores

Those who enjoy placing football bets are invariably interested in underdog stories, and the Copa Libertadores has provided many of those down the years. The greatest example of a team upsetting the odds in this competition came in 2004, when Once Caldas – a club from the small Colombian city of Manizales – lifted the trophy.

Once topped their group ahead of Union Atletico Maracaibo, Velez Sarsfield and Fenix, before eliminating Barcelona in the round of 16. They then stunned Brazilian side Santos in the quarter-finals, which preceded a shock defeat of Sao Paulo in the semis.

Despite their prior accomplishments, Once’s adventure was expected to be ended by Boca Juniors in the final. Instead, the Colombian team won on penalties after 0-0 and 1-1 draws.

What to Expect From the Copa Libertadores 2023

Of all the betting forecasts for Libertadores, the safest one is that Brazilian teams will dominate once again. For a while South America’s largest country punched below its weight in this competition, but in the last few years clubs from Serie A have outperformed their continental rivals, not least because they have more money at their disposal.

Each of the last four tournaments have been won by Brazilian sides, and the likes of Flamengo, Palmeiras and Atletico Mineiro will expect to go far this time around too. River Plate are the likeliest winners from Argentina, although Boca Juniors and Racing Club could also compete for the trophy.

It would be a big surprise if the winner did not come from Brazil or Argentina. Cerro Porteno (Paraguay), Nacional (Uruguay), Independiente Del Valle (Ecuador) and Colo-Colo (Chile) are among the teams who will be looking to spring a surprise in that regard.