Sky Bet make Portugal odds-on to book a place in the last four when they face the Czech Republic in the first quarter-final on Thursday.
The Czechs secured their spot in the last eight by topping Group A, but are 4/1 outsiders to win in 90 minutes and 2/1 to qualify.
After firing blanks in his first two games, Cristiano Ronaldo emerged as the hero for the Portuguese against the Netherlands with a brace and has consequently been cut from 33/1 to 3/1 in the top Euro 2012 goal scorer betting markets.
The Real Madrid hitman is the 7/2 favourite to score first at the National Stadium Warsaw with former Liverpool striker Milan Baros 11/1 to net first for the Czechs.
The two sides have met twice in previous European Championships with one victory apiece. Portugal have conceded a goal in each of their last ten matches and it's 15/8 they win to nil.
On the previous two occasions the Czechs have reached the quarter-finals they have won without conceding a goal and it's 12/1 they win the match 1-0.
Portugal were cut from 12/1 to 7/1 in the outright betting after progressing from the 'Group of Death', while Michal Bilek's men have come in from 66/1 to 33/1.
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