France atop
In search of a second consecutive final appearance at the EUROs, France will head into the knockout stages with a 19.6 per cent chance of being victorious in the showpiece.
Didier Deschamps' side are unbeaten in 10 games at major tournaments since losing the EURO 2016 final, and with a nod to the Tour de France beginning this weekend, stand as the favourites to finish on the top step of this year's podium.
Belgium edge closer
Hot on the heels of the French are Roberto Martínez's Belgium, who are currently holding a 17.9 per cent chance of winning the tournament.
The Red Devils have won nine of their 10 major tournament games since Martínez took charge, but will have to get through reigning champions Portugal - who have a 5.8 per cent chance of retaining the trophy - in opening their path to the final.
Spain moves up
Meanwhile, Spain make up the top three favourites to win this year's competition.
As per the latest projection, the La Roja is holding a 12.9 per cent chance of winning their first major tournament since EURO 2012.
England on the right side
As has been well documented since the completion of the group stage, England have found themselves on the "right side" of the draw, albeit with the complex matter of Germany to get through before any dreams can be realised.
This is reflected in their 8.5 per cent chance of going on to win EURO 2020 - currently the sixth-best projection among the remaining 16 teams (only marginally behind the Netherlands in fifth).
Home Nations struggle
The picture is not quite so favourable for the first of the Home Nations to face the Round of 16, however. Wales will play the first of this year's knockout stage games, but hold just a 0.8 per cent chance of going on to win EURO 2020.
Rob Page's side are the underdogs to emerge from their game against Denmark, projected at a 33.3 per cent chance to advance at the Johan Cruijff Arena.