The action at Euro 2008 has ranged from outstanding to sleep-inducing. At least we haven’t been short of surprises. That seems to be good news for the bookies.

The quarterfinal between Portugal and Germany, for example, saw the Germans pull off the upset at 15-8 (Portugal was 6-4, the draw was 2-1). The punters reportedly took a bath when Germany won 3-2 after a lackluster 1-0 performance against Austria in the Group Stage.

Much of that money will apparently go back to the betting public if Spain continues its historic romp. The Spaniards are 3-2 co-favorites with Germany as Euro 2008 enters the semifinals; Spain has a date with Russia on Thursday, one day after Germany tangos with Turkey. Both matches are 2:45 p.m. Eastern starts.

Spain’s David Villa has also been getting support to win the Golden Boot for most goals in the tournament. Villa is an 8-15 chalk with four goals, one more than Germany’s Lukas Podolski (7-2).