Spain’s period of international dominance may only be beginning.
After winning Euro 2024 and lifting the 2026 FIFA World Cup, La Roja have been ranked as the favourites to win both the 2026/27 UEFA Nations League and Euro 2028.
A Polymarket snapshot placed Spain at the top of the Nations League market with a 31% implied probability. France followed on 25%, ahead of Germany, England and Norway.
The prediction reflects Spain’s recent success, exceptional young talent and the possibility that several of their leading players will be approaching their peak by the time Euro 2028 begins.
Why Spain Are Nations League Favourites
Spain have built an outstanding period of success around a technical playing identity and a young squad capable of improving further.
Their Euro 2024 triumph demonstrated that they could control possession while also attacking quickly through wide areas. Two years later, Spain defeated Argentina 1–0 after extra time in the 2026 World Cup final to secure their second world title.
That combination of European and world success has established Spain as the team every major rival must overcome.
Their greatest advantage is that the squad does not appear to have reached its ceiling. Lamine Yamal, Pedri, Gavi, Pau CubarsÃ, Dean Huijsen, FermÃn López and Nico Williams could all remain central to the national team by Euro 2028.
Yamal, in particular, has become the face of Spain’s new era. His ability to create chances, beat defenders and score decisive goals gives La Roja an unpredictable attacking weapon.
Spain’s midfield options are equally impressive. Rodri provides control and experience, while Pedri offers creativity and intelligence between the lines. Gavi supplies intensity, and FermÃn López can contribute goals through late runs into the penalty area.
Finding the ideal balance between Rodri and Pedri remains an important tactical question, but their developing club-level understanding could benefit the national team.
Spain’s Potential Euro 2028 Squad
Spain could have a frightening team by the time Euro 2028 arrives.
A possible core may include:
- Lamine Yamal – Elite creativity, dribbling and goals from the right wing.
- Nico Williams – Direct pace and one-versus-one ability on the opposite flank.
- Pedri – A composed midfielder capable of controlling the rhythm of major matches.
- Gavi – Energy, pressing and competitive intensity.
- Rodri – An experienced defensive midfielder and potential leader.
- FermÃn López – A versatile attacking midfielder with a strong eye for goal.
- Pau Cubarsà – A technically gifted central defender who remains young enough to improve considerably.
- Dean Huijsen – A modern defender comfortable progressing the ball from deep.
- Unai Simón – An experienced goalkeeper familiar with Spain’s possession-based system.
Spain’s squad is already among the most valuable in international football. Their September 2026 selection was reportedly valued at approximately €1.345 billion, with Yamal and Pedri among its most valuable players.
If the core remains healthy and continues developing, Spain could enter Euro 2028 with an even stronger team than the one that conquered Europe and the world.
France Remain Spain’s Biggest Threat
France are positioned as Spain’s closest Nations League challengers—and for good reason.
Kylian Mbappé remains one of the world’s most dangerous goalscorers, while Michael Olise, Désiré Doué and Rayan Cherki provide creativity and unpredictability around him.
France also possess outstanding squad depth across defence and midfield. Under Zinedine Zidane, Les Bleus have made a perfect start to their latest Nations League campaign, winning their opening two matches without conceding.
If Zidane can establish the right balance between France’s established stars and emerging talents, they may be the team best equipped to stop Spain.
Can Germany Challenge La Roja?
Germany were given a 13% chance in the graphic, placing them third among the leading contenders.
Florian Wirtz and Jamal Musiala give Germany two exceptional attacking creators. Both players can operate between the lines, carry the ball through pressure and change matches with individual moments.
Germany also have a strong combination of experienced performers and younger players. Their challenge will be developing the defensive consistency required to win knockout matches against teams such as Spain and France.
England’s Golden Generation Still Searching for a Trophy
England sit fourth with a 12% implied probability.
The Three Lions possess one of Europe’s deepest attacking squads, featuring Jude Bellingham, Bukayo Saka, Cole Palmer and several other elite players. England also finished third at the 2026 World Cup, underlining their ability to progress deep into major tournaments.
However, Spain remain a major obstacle. La Roja defeated England in the Euro 2024 final and recently recorded another 3–2 victory over them in the Nations League.
England have enough individual quality to challenge any opponent, but they must demonstrate greater control and composure in decisive matches.
Norway Emerge as Dangerous Outsiders
Norway’s 10% probability makes them the most interesting team in the top five.
Erling Haaland gives Norway one of the deadliest strikers in world football, while Martin Ødegaard provides creativity and leadership from midfield. Their presence means Norway can punish any defence, even when they do not dominate possession.
Norway may not have the same overall depth as Spain or France, but their leading players make them extremely dangerous in knockout football.
Are Spain Also Favourites for Euro 2028?
Spain currently lead the Euro 2028 prediction market with an implied probability of approximately 22.5%. France follow on 19.5%, while England sit at around 15.5%.
Those percentages are lower than the Nations League figures because the European Championship will involve a larger field and greater uncertainty. Nevertheless, Spain remain the market’s leading selection.
Winning Euro 2028 would complete an extraordinary run of three consecutive major international titles following Euro 2024 and the 2026 World Cup.
It would also place this generation alongside Spain’s legendary side that won Euro 2008, the 2010 World Cup and Euro 2012.
Who Can Stop Spain?
France appear to have the best combination of individual quality, squad depth and tactical potential to challenge Spain. England and Germany also possess enough talent to win the Nations League or Euro 2028, while Norway remain a dangerous outsider because of Haaland’s goalscoring ability.
However, Spain currently have the strongest argument.
They are reigning European and world champions, have a settled footballing identity and possess a young core that could be even better in two years. Until another country proves capable of consistently defeating them, La Roja deserve to be considered Europe’s team to beat.
Follow International Football With Bangbet
Football fans can follow the latest Nations League fixtures and explore available international betting markets with Bangbet.
Before placing a bet, assess team form, injuries, confirmed lineups and current odds. Prediction-market percentages are not guarantees of future results and should only be treated as an indication of market expectations.
Always bet responsibly, manage your bankroll carefully and never wager more than you can afford to lose. Betting is strictly for adults aged 18 and above.
