At a time when the continent's politicians (well, the UK's at least) are seemingly tearing chunks out of each other over the upcoming EU referendum, it might seem like an odd time to stage a football tournament between Europe's giants.
But of course, sport and politics rarely mix well (just ask Sepp Blatter), so it's just as well that so many fans of sports betting are using Euro 2016 as the opportunity for a bit of welcome escapism from the mundane debates taking place elsewhere.
Place the right matched bets with our help here at Profit Accumulator, and you may even make money online this summer to the tune of thousands of pounds - having done little more than watch a few games of football. But who are the favourites for glory who could leave you 'quids in' by the time of the final at the Stade de France on 10th July?
The French haven't claimed the European title since David Trezeguet's moment of magic in 2000, while they have also been leaking goals as of late - six having been conceded in pre-tournament friendlies against the Netherlands, Russia and Cameroon alone.
It's handy, then, that Didier Deschamps' men are in such healthy scoring form, having netted 10 times in those aforementioned matches. With such midfield and attacking talents as Paul Pogba, Anthony Martial and Antoine Griezmann in their squad, plus home advantage, it's not a great shock that Les Bleus have been so widely declared favourites, with 10/3 odds on offer from the likes of 888sport, Betway and Unibet.
One would expect the world champions to figure highly in the Euro 2016 betting, and sure enough, they are attracting 7/2 odds at Bet 365, Sky Bet and Bet Victor. Joachim Low's men also enjoyed a largely stress-free qualifying campaign, so why aren't they outright favourites?
The short answer is that there's been quite the change in playing staff since that memorable triumph in Brazil two years ago, with the likes of Philipp Lahm, Miroslav Klose and Per Mertesacker having all since departed the international scene. But with Manuel Neuer, Toni Kroos and Mario Gotze just some of the near-peaking talent that Low can still call upon, few will be having sleepless nights at the DFB as the tournament proper approaches.
Spain's hold on every major international tournament that it contested was finally broken in Brazil, and it's true that Vicente del Bosque's men don't have that sense of invincibility that they once did. This is reflected in their odds, which are a stubborn 11/2 at Bet 365, Sky Bet, Totesport and many other bookmakers.
These are tempting odds for anyone eager to make money from betting this summer, given that the Spanish are far from down-and-out, having preceded the tournament with a 10-game unbeaten run following an almost spotless run to qualification. If the towering David de Gea finally pushes Iker Casillas out of his long-time number one spot in goal, La Roja may just become unbeatable.
You wouldn't expect a team that qualified for the tournament having shipped just three goals in 10 games to have too many worries over defence. However, it is widely 8/1 and 9/1-fancied England's most obvious weakness, with only three recognised centre-halves in the squad - although the talented Eric Dier will doubtless ably fill in at the back if required to do so.
By contrast, Roy Hodgson's men have an almost embarrassment of riches up front, at least by recent historical standards - not since Euro 2000 have the Three Lions entered this competition with two 20-goal Premier League strikers, namely Harry Kane and Jamie Vardy. But it does beg the question: for how much longer can once-indispensable captain Wayne Rooney hold onto his first-team place?
Odds of 10/1 and 11/1 at many bookmakers make Belgium an intriguing prospect for slightly more adventurous sports betting aficionados, although Marc Wilmots' team do have a few issues, not least injuries to defensive lynchpins Vincent Kompany and Nicolas Lombaerts.
There's plenty of talent across the rest of the Red Devils' squad, from Eden Hazard to Kevin De Bruyne, who scored the winner in the recent warm-up against Switzerland. But will Wilmots achieve the right combinations for success - both at the back and up front - in time for the opener against Italy on 13th June?
Of course, you could simply gamble on one of these teams - or an outsider - coming up trumps this summer, or you could make money from betting of a much more predictable nature, by signing up to place a few matched bets with ourselves here at Profit Accumulator. We know what decision we'd make!