Beaten World Cup finalists France have been heavily tipped to win a first European Championship since 2000, Cristiano Ronaldo has been fancied to drag Portugal to glory again in what could be his last hurrah on this stage, while hosts Germany and perennial nearly-men England are also in the conversation of potential Euro 2024 winners.
Major tournaments very rarely go exactly to the script, though, and there is almost always an underdog that emerges to upset the odds and bloody the noses of the established elite.
Some have even gone all the way; Denmark famously won the trophy having initially not even qualified in 1992, while 20 years ago Greece stunned the world in one of football's great surprise triumphs.
While the majority flock towards the favourites, then, it is always worth looking at the dark horses, and which unfancied teams could become the latest in a long line of inspiring underdogs stories.
With that in mind, the Sports Mole team have chosen which team they believe will upset the odds and punch above their weight at Euro 2024 this summer.
Who will be the biggest surprise package at Euro 2024?
Barney Corkhill, Editor - Georgia
It is such an intriguing question, because there are so many potential answers this year.
Austria look good, but are scuppered for me after being drawn in a group alongside France and Netherlands; Denmark have a talented squad on paper but suffered a dismal World Cup and have not quite been the same since reaching the semis three years ago; Turkey have suffered a dip in form this year after encouraging results prior to that; Czech Republic have had a tumultuous buildup and are still getting to grips with a new manager, albeit one with a 100% record.
Hungary could do well and could be another choice, but I am going to stick my neck out a bit further and go for the only team making their European Championship debut at these finals - Georgia.
As first-timers they arrive into the tournament with the least expectation on them, and that can often prove to be a dangerous factor for their opponents.
In Khvicha Kvaratskhelia they boast a genuine match-winner with the X-factor that could make all the difference in games against Turkey and Czech Republic, both of whom have their own issues that a carefree and pressure-free Georgia might be able to exploit.
A second-placed finish could end up with a round of 16 tie against France, while a best third-placed finish could end up with an England meeting, but even making it out of the group stage would be an incredible achievement for a team that has never made it to a major tournament as a standalone nation.
Matt Law, Football Editor - Denmark
Denmark will enter Euro 2024 off the back of three straight wins, and they will be expecting to claim a top-two position in Group C this summer.
The Red and Whites made the semi-finals of Euro 2020, while they won the competition back in 1992, and it is not impossible to imagine them having a deep run into this tournament.
There appears to be the perfect mixture of youth and experience in their squad, and it will be fascinating to see how Manchester United's Rasmus Hojlund performs.
Denmark have a lot of talent across their squad, and although it will be a hugely difficult task, winning the European Championship for the second time in their history is not beyond this side.
Ben Knapton, Senior Reporter - Slovenia
While Austria have the form and resources to spring a surprise this summer, my eyes have been drawn to Slovenia, who only missed out on top spot in their qualifying group on head-to-head points with Denmark, whom they are more than capable of usurping in Group C.
As well as the old guard of Jan Oblak and the returning Josip Ilicic, towering talisman Benjamin Sesko arrives at the Euros on the back of scoring in his last seven Bundesliga games of the season and also netted five times in qualifying.
Going unbeaten in their most recent six games (a run which includes an astounding win over Portugal) should also make Europe stand up and take notice of Slovenia, who will not pip England to top spot, but a first-ever knockout appearance at a major tournament is a very achievable aim.
Oliver Thomas, Senior Reporter - Ukraine
Ukraine may have scraped through to Euro 2024 via the playoffs, but they have the potential to be one of the surprise packages at this summer's tournament.
Backed by the neutrals amid the ongoing war in their homeland, Ukraine have only lost three of their last 14 internationals since the start of 2023 and have avoided defeat in matches against Germany (twice), England and Italy during this run.
In a squad mixed with youth and experience, head coach Serhiy Rebrov has a number of talented players at his disposal including Arsenal's Oleksandr Zinchenko and Chelsea's Mykhaylo Mudryk.
Shakhtar Donetsk's Georgiy Sudakov and Girona's Viktor Tsygankov are also ones to watch, while the latter's club teammate Artem Dovbyk won the La Liga Golden Boot after scoring 24 goals last season.
Ukraine will fancy their chances of advancing from the group stage and could even pip Belgium to top spot in Group E, before seeking to cause an upset in the knockout rounds.
Darren Plant, Senior Reporter - Italy
As defending champions, it is unusual to describe Italy as a potential surprise package, but this is a team that has lost valuable youth and experience due to injury.
There are doubts as to how the Azzurri will handle being without key defensive members, but this is tournament football. If Italy can negotiate a tough group, they can go deep.
Incredibly, none of this squad are in double figures in terms of goals for their national team, but we are backing everything to come together for Luciano Spalletti's side with an appearance in the semi-finals and beyond a possibility.
Ben Sully, Reporter - Ukraine
They may have had to go through the qualifying playoffs, but Ukraine possess a squad that has the quality to spring a surprise.
They have two strong goalkeepers in Andriy Lunin and Anatoliy Trubin, a number of Premier League stars and La Liga top scorer Artem Dovbyk.
Serhiy Rebrov's side have already proved they can compete with the big nations, having drawn with England, Italy and Germany in the past year. After being presented with a favourable group, they will certainly fancy their chances of reaching the knockout rounds, where they could produce a shock or two.
They may not produce the heroics of Greece in 2004, but I would not discount a quarter-final or even a semi-final appearance.
Jonathan O'Shea, Reporter - Austria
Holding off neighbours Hungary for the title of 'dark horses', Austria are frequently more than the sum of their parts under Ralf Rangnick, who recently agreed to stay on despite interest from Bayern Munich.
Since his arrival, the Austrians have gone from strength to strength, and an energetic style of play should see them through Group D - although their clash with Poland may be a must-win, given France and the Netherlands also lie in wait.
Michael Gregoritsch and Marko Arnautovic both provide a threat up front, so reaching the last eight cannot be ruled out.
Sam Varley, Reporter - Ukraine
I would certainly not be surprised to see Ukraine leave a major mark on Euro 2024.
The Blue and Yellow will fancy themselves to pip Slovakia and Romania to a top-two spot in Group E alongside group favourites Belgium, and they have the quality to trouble any side in the knockout stage thanks to the flashes of star quality throughout their squad.
The likes of Roman Yaremchuk, Oleksandr Zinchenko, Ruslan Malinovskyi and Andriy Yarmolenko boast an abundance of experience on the international stage, while Mykhailo Mudryk has the tools to hurt any defence, despite a tough season for Chelsea, and Artem Dovbyk is a danger man up front after winning the La Liga Golden Boot with a tally of 24 league goals for Girona in the 2023-24 season.
Carter White, Reporter - Austria
Since taking the reins in May 2022, Ralf Rangnick has transformed Austria into a side who have a rare characteristic at national-team level: a group of players with a well-defined and effective style of play.
As is the case with even the top international sides such as England and Kylian Mbappe-reliant France, teams are often less tactically cohesive and depend more on moments of magic in cagey late-tournament affairs.
Rangnick's side convincingly beat Germany in November and smashed fellow dark horses Turkey 6-1 during March, and if Austria can escape the competition's toughest group by any means necessary, then I believe that they will go further than many are expecting.
Joel Lefevre, Reporter - Ukraine
Given their group and what their knockout stage bracket may look like I believe Ukraine can surprise many at these Euros. Finishing in the top two in a group with Belgium, Romania, and Slovakia is a distinct possibility for Serhiy Reborv's men.
They'll be underdogs should they make the knockout stage, but they'd also likely face beatable teams in the last 16 and quarter-finals, such as the Netherlands, Portugal or some third-place sides.
There is a good mix of youth and experience in this squad, like Oleksandr Zinchenko and Mykhailo Mudryk, along with a dynamic duo with plenty of attacking quality in Artem Dovbyk and Viktor Tsyhankov, both of whom are coming off splendid domestic campaigns in Spain at Girona.
Add to that what the situation has been like in their home country over the past few years, and you get a group of talented players and a side united and determined to bring joy to their people.
All of those ingredients should make them a dangerous side to face.
Marvellous Adepoju, Reporter - Italy
Much has been said about the defending champions' current squad which, on paper, looks significantly weaker than the group that went all the way last time out.
However, I'm backing the Azzurri to enjoy a deep run into the latter stages of this year's European Championship.