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- Harry Kane remains the 5/2 favourite for the 2026 Ballon d'Or with bet365 despite Bayern Munich's Champions League exit at the hands of PSG
- Ousmane Dembele has shortened to 9/2 after scoring in PSG's semi-final victory over Bayern in Munich
- Arsenal's Declan Rice is available at 5/1 as the Gunners prepare for their first Champions League final in 20 years
Budapest Bound And the Ballon d'Or Race Just Got Fascinating
The dust has barely settled on two extraordinary Champions League semi-final second legs, and already UK betting sites are recalibrating their Ballon d'Or markets ahead of what promises to be a defining final month of the European season.
Arsenal and PSG will meet in the Champions League final at the Puskás Aréna in Budapest on May 30, and with several of the leading contenders for football's most prestigious individual award heading into that showpiece, the race for the 2026 Ballon d'Or has never looked more intriguing.
For those looking to get involved, bet365 are among those with the full market available, and you can find previous winners and more on our Ballon d'Or betting odds and history page.
Bukayo Saka's close-range finish was enough to send Arsenal through to their first Champions League final since 2006, edging out Atlético Madrid 2-1 on aggregate in a tense north London second leg.
PSG then confirmed their place in the final the following evening, with Ousmane Dembele putting the holders ahead inside three minutes in Munich before Harry Kane's stoppage-time goal proved merely a consolation.
Kane Stays Top Despite Bayern Exit But For How Long?
The most remarkable aspect of the current Ballon d'Or market is the resilience of Harry Kane's position at its summit.
Despite Bayern Munich's elimination from the Champions League, the England captain remains the 5/2 favourite with bet365, which is a reflection of just how extraordinary his domestic season has been.
Kane has been in relentless goalscoring form throughout the Bundesliga campaign, and his record of scoring in six consecutive Champions League knockout stage matches, including a stoppage-time goal in Munich on Wednesday, underlines a player operating at the very peak of his powers.
Dembele, Rice and the Budapest Wildcard
Ousmane Dembele's move to 9/2 tells its own story.
The reigning Ballon d'Or holder scored inside three minutes in Munich as PSG exploded on the counter, putting Luis Enrique's side two goals up on aggregate and effectively ending Bayern's hopes of reaching the final.
It was the kind of moment that Ballon d'Or voters remember, with a player delivering on the grandest stage under the greatest pressure, with everything on the line.
Should Dembele go on to lift the Champions League trophy in Budapest and secure back-to-back awards, it would represent one of the most dominant individual spells in the history of the prize.
Declan Rice at 5/1 is perhaps the most fascinating narrative in the market.
The Arsenal midfielder was pictured celebrating wildly as the Gunners confirmed their place in the final, and with Premier League leadership added to a potential Champions League winners' medal, the case for Rice in the Ballon d'Or conversation is growing by the week.
At 5/1 he represents genuine each-way value for anyone who believes Arsenal can win in Budapest.
Michael Olise shares the 5/1 price despite having an off night by his own extraordinary standards in Munich.
The Bayern forward has been one of the standout performers in European football this season, and a single below-par semi-final should not obscure what has been a record-breaking campaign.
Where To Bet on the Ballon d'Or 2026
If you're looking to back your Ballon d'Or pick, bet365 are one of the most trusted UK betting sites for football markets, offering competitive odds across all the major individual award markets.
New customers may also be able to claim free bets to get involved, so always check the latest promotions before placing.
For a full breakdown of the market history and previous winners, visit the best football betting sites page.
