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Goldman Sachs

July 11, 2026

The World Cup and Economics

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This report provides updated model-implied probabilities for the 2026 World Cup knock-out stage following Spain's victory over Belgium. France currently leads the winning probability estimates at 34.6%.

Key Takeaways

  • 1.Spain advanced to the semi-finals after a 2-1 victory over Belgium.
  • 2.France remains the team with the highest probability of winning the World Cup at 34.6%.

Table of Contents

  • Exhibit 1: Today's Game
  • Exhibit 2: The Development of the Knock-Out Phase
  • Exhibit 3: France Still Ahead
  • Exhibit 4: Updated Probabilities of Advancement in the 2026 World Cup
  • Disclosure Appendix

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