2025 Ballon d’Or Odds: Updated List After Lamine Yamal and Spain Lose Nations League Final

As the dust settles on the Nations League final, bookmakers have updated their Ballon d'Or odds and some big shifts have taken place.

The 2025 Ballon d’Or race has taken another dramatic turn following the conclusion of the UEFA Nations League final, where Portugal edged out Spain in a nail-biting penalty shootout at the Allianz Arena in Munich. The match ended 2-2 in normal time, which saw Cristiano Ronaldo, Nuno Mendes, Mikel Oyarzabal and Martin Zubimendi register their name on the scoresheet.

Meanwhile, Spain’s rising star Lamine Yamal had a subdued outing against a resolute Portuguese defense as the youngster was marshalled well by Portugal’s Nuno Mendes. Notably, Mendes delivered a standout performance in the match. As the dust settles on the final, bookmakers have updated their Ballon d’Or odds and some big shifts have taken place.

Here’s a look at the current top five contenders for the prestigious Ballon d’Or award:

Latest Ballon d’Or 2025 Winner Odds

Odds via OddsTracker
(As of June 9)

Ousmane Dembele – 4/9
Lamine Yamal – 2/1
Ferreira Vitinha – 12/1
Mo Salah -25/1
Raphinha – 25/1

Breaking Down The Odds To Win The Ballon D’Or 2025:

Ousmane Dembele (4/9)

The PSG winger leads the Ballon d’Or race. With France making it to the Nations League semifinals and Dembele continuing to dazzle for both club and country, his consistent impact across all competitions makes him the bookmakers’ top pick. He has combined individual flair with end product and combined with PSG’s success this season, it is hard to look past Dembele. Dembele’s impact at PSG and for France has been massive and if he continues this form into the Club World Cup, he will definitely win Ballon d’Or.

🚨 𝗡𝗘𝗪: All of the bookmakers rate Ousmane Dembélé as the CLEAR favorite to win this years's Ballon d'Or, with Lamine Yamal ending second! ✨

— @oddschecker pic.twitter.com/8kf5FLZLup
— The Touchline | Football Coverage (@TouchlineX) June 9, 2025

Lamine Yamal – 2/1

Once seen as a frontrunner, Yamal’s chances have slightly dipped after a quiet performance in the Nations League final. The Barcelona teen sensation had been in electric form all season, but his struggle to get past Nuno Mendes and failure to leave a mark on the final has affected his standing.

Vitinha – 12/1

PSG’s midfield engine has played a vital role in Portugal’s title-winning Nations League run. Vitinha’s composure on the ball, pressing ability, and intelligence have boosted his reputation immensely this season. With a major international trophy under his belt and a terrific season with PSG, his odds have seen a sharp improvement in the past few days.

Mo Salah -25/1

Liverpool’s star man continues to deliver high numbers season after season. With Liverpool winning the Premier League this season, Salah’s numbers were terrific. With 29 goals and 18 assists in the Premier League, he remains a long shot in the Ballon d’Or picture. However, his lack of a marquee international or continental title in 2025 limits his chances.

Raphinha – 25/1

The Barcelona winger has had an impressive campaign, contributing crucial goals and assists across La Liga and Champions League. Despite being a consistent performer at the club level, Brazil’s struggles at international level have contributed to Raphinha being a long shot for the Ballon d’Or award. However, he still remains a dark horse in the race.

2025 Ballon d’Or

2025 Ballon d’Or Odds

Ballon d’Or

Mohamed Salah

Ousmane Dembele

Raphinha

Vitinha

Yamine Lamal

Abhinav Goel

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I am a soccer writer at The PlayOffs, covering everything from match analysis to transfer buzz and tactical deep dives. Ever since I was a kid, soccer has been more than just a sport to me—it’s been an obsession. Playing and watching the game from a young age fueled my passion, eventually leading me into the world of sports media and betting. Now, I get to analyze the sport I love and bring the latest updates to fans worldwide.