Bulgaria holds a commanding lead in the Eurovision 2026 Second Semi-Final winner market at 69% implied probability, fueled by standout second rehearsals and jury show reactions that highlighted Dara’s high-energy “Bangaranga” staging and broad televote appeal. Australia follows at 38.4% after Delta Goodrem’s “Eclipse” delivered polished vocals and dynamic visuals that lifted its momentum in the final pre-show days. Romania, Ukraine, and Czechia trail with far lower odds, reflecting more modest rehearsal feedback and narrower voter bases under the 50/50 jury-televote split. With the semi-final now concluded in Vienna, traders are closely watching any late qualification ripple effects, though Bulgaria’s consistent frontrunner status across bookmakers suggests limited room for a late upset.