The 2026 FIFA World Cup kicks off on June 11, and the race to lift the trophy is already starting to take shape. Spain currently sit as the favorites at Kalshi — one of our favorite prediction market apps — but with nearly every major nation loaded with talent, the outright market remains wide open heading into the summer.
This tournament also brings a completely new look to the World Cup. The field expands from 32 teams to 48, adding more matches, more travel, and far more unpredictability than we’re used to seeing on the sport’s biggest stage.
Below, you’ll find the latest 2026 World Cup odds, the current favorites, and where the market stands as bettors and traders continue positioning themselves ahead of the official squad announcements on June 1.
World Cup odds 2026: Who will win?
| Country |  |
Implied Probability |
|---|---|---|
 Spain |
+488 | 17% |
 France |
+499 | 16.7% |
 England |
+801 | 11.1% |
 Portugal |
+953 | 9.5% |
 Argentina |
+975 | 9.3% |
 Brazil |
+987 | 9.2% |
 Germany |
+1686 | 5.6% |
 Netherlands |
+2400 | 4% |
 Belgium |
+4067 | 2.4% |
 Norway |
+4067 | 2.4% |
 Colombia |
+5456 | 1.8% |
 Japan |
+6150 | 1.6% |
 Morocco |
+6150 | 1.6% |
 USA |
+6567 | 1.5% |
 Mexico |
+7592 | 1.3% |
 Uruguay |
+8233 | 1.2% |
 Switzerland |
+9900 | 1% |
Odds as of 5-27. Percentages courtesy of Kalshi.
Kalshi is a regulated financial exchange where you trade on real-world event outcomes. Instead of traditional odds, prices are listed as percentages (0–100%), representing the market’s estimated probability of an event occurring.
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World Cup odds quick links
- Favorites tightening: Spain and France have swapped places atop the market once again, with England being the only other team with a 10% or greater win probability.
- Defending champs priced cautiously: Argentina remain among the top contenders, but traders are hesitant to shorten them further given the difficulty of repeating.
- Public vs. sharp split: Spain and England are drawing heavy ticket volume, while France continues to attract stronger handle share.
- Path matters: Several price shifts reflect projected knockout routes and perceived winners and losers of the draw.
Breaking down the World Cup favorites
France (+499)
Kylian Mbappe is a match-winner on his day, which gives France a leg up on the rest of the competition. They've got an embarrassment of attacking riches, and there’s a real argument that no country in the tournament can match their firepower from front to back.
The biggest concern is at the back, where France can still look vulnerable defensively against organized sides. Even so, nobody will want to face them in a knockout match where one moment from Mbappe, Ousmane Dembele, or Michael Olise can completely flip a game on its head.
Spain (+488)
Fresh off their Euro 2024 triumph, La Roja are showing no signs of slowing down. Blessed with elite young talent, including Lamine Yamal and Pedri, Spain arguably have the highest floor of any contender heading into the tournament.
Their style of play also translates perfectly to tournament football. Spain are comfortable controlling possession, slowing games down, and forcing opponents to chase for long stretches. If the attack continues to evolve around Yamal, this team has every tool needed to win the World Cup.
England (+801)
If not now, then when? England are still searching for their first World Cup title since 1966, but this current core is running out of opportunities together. Harry Kane remains the focal point, while Jude Bellingham, and Bukayo Saka, give England one of the deepest attacking groups in the field.
The issue is that we’ve seen this story before. England have consistently entered major tournaments with sky-high expectations only to fall short in the biggest moments. The talent is undeniable, but questions surrounding mentality, tactics, and a potentially difficult knockout draw are keeping skepticism alive around their World Cup odds.
Brazil (+987)
It feels like an eternity since Brazil last lifted the World Cup in 2002, and the pressure surrounding this national team only continues to grow. Carlo Ancelotti brings instant credibility and experience to the sideline, but Brazil still hasn’t looked like a fully cohesive unit against elite competition.
That said, the talent ceiling remains terrifying. Vinicius Junior, Neymar, Raphinha, and a new generation of attacking players give Brazil the kind of individual brilliance capable of carrying them deep into the tournament. They may not look complete right now, but nobody will be eager to draw them in the knockout stage.
Argentina (+975)
The defending champions are well-equipped to defend their title, even if Lionel Messi takes on a reduced role in 2026. Argentina remain one of the most balanced teams in the tournament, built around a strong defensive structure, elite midfield control, and one of the steadiest goalkeepers in the world in Emiliano Martinez.
Perhaps most importantly, they already know how to win these matches. Tournament experience matters, and very few teams are as comfortable navigating pressure-filled knockout games as Argentina. They may not have the flashiest roster in the field anymore, but writing them off would be a massive mistake.
World Cup Golden Boot odds
Golden Boot odds focus on which player will finish the tournament as the top scorer, factoring in team strength, expected minutes, and matchups throughout the knockout rounds. For a full breakdown of contenders and tiebreaker rules, see our World Cup Golden Boot odds page.
World Cup group odds and qualification markets
World Cup group odds let traders target which teams will finish first in their group or qualify for the knockout stage, often at better prices than outright futures. These markets are shaped heavily by group draw, goal differential, and projected paths — all of which are tracked on our World Cup group standings page.
World Cup match odds explained
Match odds differ from futures by focusing on individual games rather than the tournament winner, with pricing that can shift quickly as teams rotate lineups or manage fatigue. Knockout matches bring added volatility due to extra time and penalties, while live betting allows bettors to react to momentum swings as matches unfold.
How to trade on the World Cup
Betting on the FIFA World Cup is one of the most popular events in global sports wagering, with markets ranging from outright winners to player props and live in-game odds. Here’s a breakdown of how to bet on soccer in the most common ways:
- Outright winner: Pick which nation will lift the trophy.
- Group winner: Back a country to finish top of its group.
- Group exact finish: Predict the exact order of finish (1-4) for each group.
- Match markets: Wager on moneyline, spread, or totals for individual matches.
- Player props: Trade on tournament-long markets such as who will win the Golden Boot or Golden Ball, or individual match props like goals, shots, or bookings.
- To reach quarterfinals/semifinals: Back a country to go deep into the tournament without needing to win it.
Tip: Odds can fluctuate dramatically during the tournament, especially after injuries or upsets, so shopping around for the best line is key.
FIFA World Cup 2026 splits
Per BetMGM, Spain is the most-bet tournament winner with 13.4% of bets but only 11.1% of the handle.
2026 FIFA World Cup Winner
- Spain — 13.4% of bets, 11.1% of handle
- England — 13.2% of bets, 9.2% of handle
- France — 12.5% of bets, 12.9% of handle
- Portugal — 9.9% of bets, 8.3% of handle
- USA — 6.3% of bets, 3.1% of handle
Fellow hosts Mexico (+6600) has 1.9% of bets and 0.8% of handle, and Canada (+15000) has 1.3% of bets and less than 0.3% of handle.
Who has qualified for the 2026 FIFA World Cup?
Three countries receive automatic entry as tournament co-hosts:
- United States
- Canada
- Mexico
Qualified teams:
Argentina, Brazil, Colombia, Ecuador, Paraguay, Uruguay, England, France, Germany, Spain, Portugal, Netherlands, Belgium, Croatia, Switzerland, Austria, Scotland, Norway, Turkiye, Czechia, Bosnia and Herzegovina, Sweden, Australia, Japan, Korea Republic, Iran, Saudi Arabia, Qatar, Uzbekistan, Jordan, Morocco, Senegal, Egypt, Ghana, Algeria, Tunisia, Côte d'Ivoire, South Africa, Cabo Verde, New Zealand, Panama, Curaçao, Haiti, D.R. Congo, Iraq.
Odds are correct at the time of publishing and are subject to change.
Not intended for use in MA.
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FIFA World Cup Odds FAQs
Spain (+488) sit ahead of France (+499) and England (+801) as the early favorites to win the 2026 FIFA World Cup.
It depends on the market. Betting early can provide value on teams you expect to shorten as public interest grows, while waiting allows bettors to factor in injuries, squad announcements, and late market movement. Many experienced bettors split exposure — placing a small early bet and reassessing closer to the tournament.
Host nations often benefit from automatic qualification, regional familiarity, and fan support, but they are not guaranteed value bets. The United States, Mexico, and Canada are all priced as mid-tier or longshot contenders, with sportsbooks factoring in home advantage while still accounting for overall squad strength.
Brazil have won the most World Cups, with five, while Italy and Germany follow with four wins each.
Only Brazil have successfully defended a men’s World Cup title, winning consecutive tournaments in 1958 and 1962. No nation has repeated as champion since, which is reflected in how cautiously sportsbooks price defending champions like Argentina.
The 23rd edition of the World Cup will take place at 16 venues across the United States, Mexico and Canada.
Argentina won the 2022 World Cup in penalty kicks over France.
