The 2024 UEFA European Championship kicks off Friday when Germany plays Scotland in Munich. The tournament will conclude with the final in Berlin on Sunday, July 14.

Germany, the Euro 2024 host nation, is on a short list of legitimate contenders to win the competition, which determines the continental national team champion of Europe. Talent-laden squads such as England and France join Germany among the top favorites for Euro 2024. Whichever squad wins the the 24-team tournament will become a heavy favorite to also win the 2026 World Cup.

These are the top five betting favorites for UEFA Euro 2024, with odds according to BetMGM:

1. England

• Odds: +350

England came tantalizingly close to winning its first major tournament since the 1966 World Cup in 2021, but lost in the Euro final in its home stadium of Wembley in penalty kicks to Italy. England's 2022 World Cup ended in a 2-1 loss to eventual runner-up France. Fresh off a UEFA Champions League win with Real Madrid, midfielder Jude Bellingham is a star for England and could be the catalyst for European glory this summer.

2. France

• Odds: +400

The 2018 World Cup winners and 2022 World Cup runner-up boasts a loaded roster. Anybody who has followed the game already knows about Kylian Mbappe. But, this is a big summer in the 25-year-old forward's career, both for his club and national team careers. In addition to leaving Paris Saint-Germain for Real Madrid, this also is the first major tournament for Mbappe as captain of the French team.

3. Germany

• Odds: +550

Germany is getting the host country boost here. A decade removed from its 2014 World Cup triumph, Germany hasn't come close to reaching those heights in either the Euros or World Cup since. Germany has failed to advance past the group stage in the last two World Cups. After reaching the semifinal of the 2016 Euro, Germany was ousted in the Round of 16 by England in 2021. The last time Germany won the Euro was 1996. Still, Germany continues to possess a talented roster of players who are key contributors for some of Europe's top clubs.

4. Portugal

• Odds: +650

This is a last dance, so to speak, for Cristiano Ronaldo. The five-time Ballon d'Or winner holds the record for most international appearances and goals, but enters this tournament a less-than-spry 39 years old. It's an impressive feat to simply be playing at this level at that advanced age. Portugal pulled off a stunner of sorts in 2016, upsetting host nation France in the final to win that year's Euro. Can a talented 19-year-old youngster such as Joao Neves help push the aging Ronaldo to one more moment of glory?

5. Spain

• Odds: +700

The glory days of Spain's 2008 Euro, 2010 World Cup and 2012 Euro title run are a fading memory and most of the players from that era have retired. However, a new generation is looking to bring Spain back to the top, the most notable being 16-year-old Lamine Yamal, who plays at FC Barcelona was fast-tracked to the national team and will be the youngest player at Euro 2024. The 21-year-old Pedri already is a veteran of two major tournaments.

UEFA Euro 2024 odds to win for other teams

According to BetMGM, here are the odds for the other Euro 2024 squads:

• Italy (+1400)

• Netherlands (+1600)

• Belgium (+1800)

• Croatia (+3300)

• Denmark (+5000)

• Austria (+5000)

• Switzerland (+6600)

• Ukraine (+6600)

• Hungary (+10000)

• Serbia (+10000)

• Turkey (+10000)

• Czech Republic (+15000)

• Romania (+15000)

• Scotland (+20000)

• Poland (+20000)

• Albania (+45000)

• Georgia (+50000)

• Slovakia (+50000)

• Slovenia (+50000)

We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an affiliate fee. USA TODAY operates independently, and this doesn’t influence our coverage.

Gannett may earn revenue from sports betting operators for audience referrals to betting services. Sports betting operators have no influence over nor are any such revenues in any way dependent on or linked to the newsrooms or news coverage. Terms apply, see operator site for Terms and Conditions. If you or someone you know has a gambling problem, help is available. Call the National Council on Problem Gambling 24/7 at 1-800-GAMBLER (NJ, OH), 1-800-522-4700 (CO), 1-800-BETS-OFF (IA), 1-800-9-WITH-IT (IN). Must be 21 or older to gamble. Sports betting and gambling are not legal in all locations. Be sure to comply with laws applicable where you reside.

This article originally appeared on USA TODAY: UEFA Euro 2024 odds to win: England, France among tournament favorites