By the way, the gap between France and the other two competitors is not so great:
Italy 12.00
In general, this is probably a fair assessment, the only thing that is clearly out of place is Spain - it seems to me that they showed dull football at the World Cup and it is unlikely that anything will change in two years. I don’t understand why they are better than the Netherlands or Italy.
I can't believe it how come Italy is the winner last EURO edition is not favorite for winning EURO 2024? seems crazy with this odds predicting because Italy success defeated England in final last EURO 2020 is not favorite team? however not qualify in World Cup 2022 its not comparison why Italy have bigger odds or not favorite in EURO 2024. I think beside Germany as host keep believing with magician from Italy success back to back winning EURO.
The European Championship or the World Cup are random seven-match tournaments and it is wrong to perceive their separate results as an indicator of strength or weakness. For example, do you remember the path of France at the previous Euro? But it doesn't affect the fact that they are the favorites now. The bookmakers estimate the chances of the teams in terms of global indicators as if it were a tournament of 1000 games, but in reality there is a lot of randomness (since there are not 1000 games) and they take it into account.