Soccer has a mixed profile around these parts. Some fans are as knowledgeable and passionate as their European counterparts. Others wouldn’t know Franz Beckenbauer from Franz Ferdinand. Whichever side of the fence you’re on, there’s money to be made. Here’s what you need to know about Euro 2008 to get started.

National teams have played qualifying games for the past two years. Sixteen made it into the tournament, co-hosted this year by Austria and Switzerland. They’re split into four groups of four; the top two teams from each group will go on to the quarterfinals. It’s a single-knockout tournament from there. We’re currently still in the Group stage.

Portugal and Croatia have already advanced to the next round, while Switzerland has been eliminated. Germany has won this event three times since its inception in 1960, and was the 7-2 favorite to win it again until losing to Croatia on Thursday. Now the Germans are 5-1.

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