Spain vs. Italy Betting Odds Preview, Euro 2016 Round-of-16 Prediction

Spain will be trying to bounce back from their first UEFA Euro loss since 2004 as they continue their drive towards a third straight European Championship on Monday, taking on Italy in the round of 16 as the +100 betting favorites at sportsbooks monitored by Odds Shark.

Italy are riding high following their first-place finish in Group E, but trail as underdogs on the three-way odds.

Match Odds: Spain +100, Italy +380, Draw +188 (Matchup Report)

Two-time European champions Spain suffered their first loss in 15 Euro contests Tuesday, dropping a 2-1 decision to Croatia that cost them top spot in Group D.

La Furia kicked off the tournament with a pair of clean-sheet victories over the Czech Republic and Turkey to clinch a berth in the knockout stage, but failed to close the deal in a 2-1 loss to Croatia in their group stage finale. That marked their second defeat in the past four outings ahead of Monday afternoon's matchup at Stade de France.

Spain were also shocked by a 1-0 loss to Georgia in their final pre-tournament outing, fueling a middling 4-2-2 run that started with a 1-1 draw against Italy in an international friendly in March.

However, the squad has enjoyed considerable success against Italy in recent years, picking up three wins and a pair of draws in their past five meetings including a lopsided 4-0 victory in the Euro 2012 final.

The Azzurri entered the tournament trailing the favorites in Euro 2016 championship betting and a Group E victory has failed to boost those odds, which remain stalled at +1600.

Italy impressed with a 2-0 win over favored Belgium in their tournament opener, and followed up with a 1-0 victory over Sweden, clinching first place on the group table. That enabled them to rest multiple starters in their 1-0 loss to Ireland.

Ireland's goal ended a four-game stretch of Italy holding opponents scoreless, but the squad has produced streaky results over the past year. They also recorded a four-game winless streak that included brutal losses to Belgium and Germany after winning four straight to wrap up Euro 2016 qualifying.

Spain vs. Italy Prediction: 2-1 Spain

All betting lines data courtesy of Odds Shark. Check out the latest Euro 2016 news.