Spain were peerless on their way to winning Euro 2008 and are quite rightly favourites this time around after sweeping all before them in the years since.
Spain became only the second nation to emerge from the group with a 100 per cent record and win the European Championship itself, and were the first side since Germany in 1996 to go through the competition undefeated.
Spain laid down a marker in their very first game. They began the championship with a comprehensive 4-1 victory over a dangerous Russia outfit, David Villa sending out a strong message with a brilliant hat-trick. Fans of Betfair will have been impressed.
The striker was the hero again in the second game as Spain broke Swedish hearts in Innsbruck. Villa's last-gasp winner denied Sweden a hard-earned 1-1 draw.
Luis Aragones' side had already secured top spot and a place in the quarter-finals by the time they beat Greece 2-1 in their final group game.
Spain's reward for topping the group was a clash with World Cup champions Italy, who had found their way out of the Group of Death. Spain edged past Italy on penalties and set up another meeting with Russia for a place in the final.
Spain overcame a nervy first half display to overpower the Russians. The 3-0 victory set up a final date with Germany in Vienna.
Spain were favourites and lived up to the billing with a composed and stylish display in a 1-0 win. They had finally shaken the tag of underachievers and lifted their first major title in 44 years. Those looking at the Betfair Euro 2012 betting will be expecting a repeat performance.
The final was the perfect end to the perfect tournament for Spain and they have not looked back. Despite some indifferent form in 2011, they will be the team to beat at Euro 2012.