Paper Rex enters as the clear favorite at 37.5% implied probability thanks to their dominant Pacific Stage 1 title, strong international head-to-head record including multiple wins over G2, and proven map pool depth that has carried them through recent VCT events. G2 Esports sits at 15.5% on the strength of their Americas regional crown and direct playoff seeding, though recent series losses to Paper Rex highlight matchup vulnerabilities. Team Vitality and Team Heretics, at 13.5% and 11.0%, have posted early Swiss Stage wins that reflect solid EMEA form and roster stability. Leviatán, NRG, and EDward Gaming occupy the next tier with competitive regional records and playoff implications, while lower-priced sides like Global Esports, FUT Esports, and XLG face steeper paths after mixed Swiss results. Trader consensus reflects these recent performance trends and qualification advantages heading into the London bracket.