Portugal are the reigning champions after seeing off France in 2016 but who are the frontrunners to lift the trophy next time?
Euro 2020 qualifying is well underway as 55 nations vie for the 24 available places in the tournament.
There are no automatic qualifying berths for this tournament due to 12 different countries holding matches in the finals, meaning every side has to get there in the usual ways of winning the group or winning a play-off.
Who are the favourites to win Euro 2020?
World champions France are 7/2 (4.50) with bet365 to win Euro 2020. This would mark the second time they have held both the World Cup and the European Championship simultaneously, having also done so in 2000.
Les Bleus have won the European Championships twice in their history and were runners-up in 2016. Victory next summer would see them move level with Germany and Spain on three championships.
Didier Deschamps’ men won six and drew one of their matches on the way to winning the World Cup in 2018, beating Croatia 4-2 in the final to lift the Jules Rimet for the second time.
England are 9/2 (5.50) to win the European Championships for the first time ever after finishing fourth at the previous World Cup.
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Gareth Southgate guided the Three Lions to their joint-best finish and will now have his sights set on winning Euro 2020.
The final is being held at Wembley, which would certainly be a storybook ending to the tournament for the second-favourites who have previously never reached the showpiece.
Who are the Euro 2020 underdogs?
Belgium are 7/1 (8.0) to win Euro 2020 and claim their first major trophy in history, having previously lost the final in 1980 and finished at the 2018 World Cup.
The Red Devils are certainly one of the most talented squads in the world, boasting the likes of Eden Hazard, Kevin De Bruyne and Romelu Lukaku, and offer significant value at that price.
Spain are also available at 7/1 (8.0) to become the most successful team at the European Championships by winning their fourth title.
La Roja won the competition in 2008 and 2012, becoming the first side to retain the title in the process, and will be aiming to make up for a disappointing showing at the 2018 World Cup.
bet365 offer 7/1 (8.0) that Germany cast aside the ignominy of a group stage exit at the World Cup by winning Euro 2020.
Despite going into that tournament as champions, Joachim Low’s men lost twice and then, to add insult to injury, were relegated from their Nations League after failing to win any of their four games.
Who are the Euro 2020 outsiders?
Netherlands have failed to qualify for the last two major tournaments but are 9/1 (10.0) to win Euro 2020 after seemingly turning around their fortunes.
Led by Virgil van Dijk, the Oranje won their Nations League group before being edged out 1-0 in the inaugural final by Portugal and, as such, are assured of at least a play-off place regardless of how well they do in Euro 2020 qualifying.
Italy are 16/1 (17.0) to bounce back from their own failure to reach the last World Cup by claiming their second European Championship title.
The Azzurri have never missed consecutive major tournaments and should have few problems making the finals as they search for a first continental title since 1968.
Holders and Nations League champions Portugal are also 16/1 (17.0) to repeat their success of 2016, whilst World Cup runners-up Croatia can be backed at 25/1 (26.0).
bet365 price Ukraine and Denmark at 66/1 (67.0) whilst the quartet of Switzerland, Poland, Russia and Serbia are available at 80/1 (81.0).
Odds correct at the time of writing. Please gamble responsibly.