The Gunners looked on course for all three points after racing to a 2-0 lead but were pegged back by a spirited second half display by West Ham.
That result capped a disappointing few weeks for the North London club after dropping another two points against Liverpool over the bank holiday weekend.
Arsenal are now 15/8 to win the 2023 Premier League title having been odds on only a fortnight ago.
Manchester City have shortened considerably into 4/9 to win the title for a consecutive time.
Pep Guardiola’s City show no signs of slowing down and are fighting for the Premier League title, Champions League and FA Cup.
City have won six games in a row in the Premier League and look unbeatable at the moment, four points behind Arsenal but with a game in hand.
The crunch game will be on 26th April when Man City host Arsenal at home.
With a full house at the Etihad expected, the Premier League trophy could well be blue once again come May.