Euro 2016 betting: Germany and France still favourites ahead of quarter-finals

Only 8 teams remain in Euro 2016 as the race to be crowned champions on the 10th July hots up for some, as others head home with their tails between their legs.

The last 16 brought some major shocks as England, Spain and Croatia all bowed out to better teams on the day in Iceland, Italy and Portugal. As expected, hosts France, Germany, Wales, Belgium and Poland progressed, with varying degrees of comfort.

As far as bookmakers are concerned it's a two-horse-race as we enter the quarter final stage of the competition, as neighbours Germany and France are locked at 3/1 to win outright.

Here's a look at where the value is:

Germany 3/1 - Without much doubt the most impressive of the remaining teams so far and they seem to have found something to work with their lack of top quality striker. They probably would be ahead of France only for the respective routes

France 3/1 - The hosts are probably joint-favourites based on (in no particular order): they're playing at home; they have a theoretically easier passage; and the bookmakers expect them to find the elusive spark in the latter stages. They should get past Iceland after a stuttering start, but don't represent great value at 3/1.

Belgium 4/1 - After a slow start against Italy they have found their rhythm with their young and potential-filled squad finally starting to deliver. With star performer Eden Hazard rediscovering form after a difficult club season, he could be the missing link to take them to the final or more.

Italy 13/2 - Having dethroned the side going for a third successive crown in the last round one would expect them to feature higher in the bookmakers' odds. Aside from their reserves´loss to Ireland in the group they have looked mightily impressive, and they play their final against Germany on Saturday night. Expect the winner to come from that tie.

Portugal 7/1 - Difficult to justify their price considering they didn´t win a game in the group stages and they fell over the line against fancied Croatia. The draw has been kind to them however and if CR7 catches fire they could be in with a shout.

Poland 18/1 - A big gap to the Poles at 18s, there shouldn't be a lot between them and Portugal, but their lack of star quality won't allow them much further.

Wales 20/1 - Already considered a successful tournament as far as Chris Coleman's side is concerned, but they have shown that they're not afraid to mix it with the big boys and well capable of causing a shock.

Iceland 40/1 - The 'Sons have lit up the tournament so far, no more so than their impressive victory over England in the last round. Can the miracle continue against France? Probably not.