Iceland vs. England Betting Odds Preview, Euro 2016 Round of 16 Prediction

After settling for a second-place finish on the Group B table, England prepares for a knockout-stage matchup with Iceland as a sizable -178 favorite (bet $178 to win $100) on the three-way betting lines at sportsbooks monitored by Odds Shark.

However, the Three Lions must be careful not to underestimate the first-time tournament participant, who are pegged as long underdogs following an undefeated run through the group stage.

Match Odds: England -178, Iceland +765, Draw +280 (Matchup Report)

England will be hitting the pitch for their third straight match against a national side making their European Championship debut when they face Iceland on Monday in a round of 16 clash.

Drawing into a group alongside new tournament arrivals Wales and Slovakia, England arrived in France amid high expectations as favorites to claim top spot in Group B.

Following an emotionally charged clash with Russia that ended knotted at 1-1, the Three Lions eked out a 2-1 win over the Dragons, but Slovakia held them to a scoreless draw. That result handed first place to Wales, setting the stage for Monday afternoon's Iceland vs. England matchup at Allianz Riviera in Nice.

England, at +900 on the odds to win Euro 2016, has continued the stingy play that has enabled them to hold opponents to just two total goals and six total shots on target thus far at the tourney and six clean-sheet victories over the past year. However, they have been unable to capitalize offensively despite dominating ball possession in each of their group-stage outings.

Scoring was not a problem the last time these two sides met, with England tallying a lopsided 6-1 victory in just their second all-time contest.

But that win came 12 years ago, and the English will likely face stiffer competition from this edition of Iceland's national team. Iceland has emerged as one of the Cinderella stories of the tournament after going undefeated in Group F action, including a 2-1 victory over Austria that earned them second place on the table.

Iceland produced a checkered 3-0-4 record in contests ahead of the Euro but entered the tournament on a high following a 4-0 rout of Liechtenstein in their final pre-tournament match. They have effectively used a defensive strategy that has stymied opponents, holding them to just one goal per game during the group stage despite getting badly outshot and outpossessed.

Expect more of the same from Iceland, who will look to capitalize on rare goalscoring opportunities while holding off a likely offensive onslaught from the Three Lions.

Iceland vs. England Prediction: 2-0 England

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