Paris are the home favourites here, but they are not a team that tends to win comfortably. Their recent wins have been tight and their defence keeps giving up points, so the question for me is the size of the margin, not who is better on paper. Lyon-Villeurbanne are short-handed, yet they have a record of staying close in this matchup.
Paris have given up 91 at Panathinaikos, 92 against Partizan and 101 at Le Mans. Their last two wins were 103-101 at Le Mans and 82-78 against Zalgiris, both one-possession type games. Over their last ten, they have rarely won by a big number, which is the pattern I care about.
Lyon are the weaker side on the injury sheet: TyTy Washington is out with an ankle problem and Mathis Dossou-Yovo is expected to miss several weeks. That explains the heavy losses at Panathinaikos and at home to Valencia, and the market has already priced it. But Patty Mills has been scoring, and Lyon went to Gravelines and won 70-65 in the league on their last outing, so they can still grind out a result.
Looking back at the last ten meetings between these clubs, Paris won by a wide margin only a few times; most were close, with Lyon winning four of them. Rosters have changed since, so I treat that as a pattern in how the matchup plays out, not as proof. The real reason is the current one: a leaky Paris defence and narrow wins make a comfortable home win less likely than the price suggests.