As with all major sporting competitions the betting markets for the Euro 2012 has been alive with action ever since the draw was made last year. Bookmakers have reported plenty of turnover on the outright win market with punters seemingly to back their opinions up on the tournament with hard cash, as Ladbrokes announcing they are an industry best price of 16/1 on England.

Even the recession can’t stop the British public in their quest to make a few quid.

Spain, the current World and European champions, have been the clear market leader to become the first side to win three major tournaments on the spin, but as the tournament draws ever nearer, their stranglehold on the favourite tag is weakening.

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Vincent De Bosque’s side continue to be opposed by nearly all bookmaking firms, who have reported a surprising amount of negativity from the punting world about their chances.

Most firms, including Ladbrokes, Coral and William Hill, all are still 11/4 about Spain’s chances, but the standout price has been dangled for punters by Bwin.com, who have pushed Spain out to 14/5 and could go 3/1 in the coming days.

Victor Chandler are probably the most confident about getting Spain beat, as they have promised to refund all ante-post outright bets up to £50 if Spain go on to win the tournament. It’s an offer which could cost the firm up to £1.5m if it goes against the.

The main wave of support against Spain has come from second favourites Germany, who look ready to win their first major tournament since 1996. They are 3/1 best priced across the board with punters piling into the Germans to such an extent that they could go off favourites come the start of the tournament next Friday.

Netherlands have been weak around 7/1, as have Italy (14/1)  but the money in the last few days have come in for France.

The French have a pretty straightforward task in Group D and punters believe that could give them momentum to go all the way.

Boylesports have cut their price from 12/1 into 10/1, as Coral go standout best price at 11/1.

Those wishing to back England should head over to Ladbrokes, who are offering an industry best price of 16/1 for the Three Lions to win Euro 2012. At that price, they should be worth a bet.