The expanded 2026 World Cup format features 48 teams across 12 groups of four, with the top two sides from each group advancing automatically alongside the eight best third-placed teams based on points, goal difference, and goals scored. As group stage matches open on June 11, trader sentiment reflects heavy favorites such as Spain, Argentina, Brazil, Germany, and England, who enter with elite squads, strong recent form, and favorable group draws that minimize elimination risk. Co-host advantages for Mexico, the United States, and Canada factor into early positioning, while underdogs face tougher paths against established powers. Key variables include squad fitness, opening-match results, and tiebreaker scenarios that could elevate or eliminate third-place contenders.