The tournament is played over seven rounds, with single-leg ties throughout, except for the semi-finals. The final is held at Wembley Stadium, which is the only leg in the competition played at a neutral venue and on a weekend (Sunday). The first two rounds are split into North and South sections, and a system of byes based on league level ensures higher ranked teams enter in later rounds and defers the entry of teams still involved in Europe. Winners not only receive the EFL Cup, of which there have been three designs, the current one also being the original, but also qualify for European football: from 1966–67 until 1971–72 the winners received a place in the Inter-Cities Fairs Cup, from 1972–1973 until the 2019–20 season in the UEFA Europa League (formerly the UEFA Cup) and starting with the 2020–21 season in the UEFA Conference League. Should the winner also qualify for Europe through other means at the end of the season, this place is transferred to the highest-placed Premier League team that has not already qualified for European competition. The most successful club in the competition are current holders Liverpool, who defeated Chelsea 1–0 in the 2024 final to win their tenth League Cup.
The tournament is played over seven rounds, with single-leg ties throughout, except for the semi-finals. The final is held at Wembley Stadium, which is the only leg in the competition played at a neutral venue and on a weekend (Sunday). The first two rounds are split into North and South sections, and a system of byes based on league level ensures higher ranked teams enter in later rounds and defers the entry of teams still involved in Europe. Winners not only receive the EFL Cup, of which there have been three designs the current one also being the original, but also qualify for European football: from 1966–67 until 1971–72 the winners received a place in the Inter-Cities Fairs Cup, from 1972–1973 until the 2019–20 season in the UEFA Europa League (formerly the UEFA Cup) and starting with the 2020–21 season in the UEFA Conference League. Should the winner also qualify for Europe through other means at the end of the season, this place is transferred to the highest-placed Premier League team that has not already qualified for European competition. The most successful club in the competition are current holders Liverpool, who defeated Chelsea 1–0 in the 2024 final to win their tenth League Cup.