Odds are set by bookmakers. They take into account mostly the current state of the teams, rather than their past achievements.
True! History or previous achievement does great job when it comes to analysis, like I get all the data from
Statisticsports, and it also does the analysis for me. However, when you consider the Odds based on the current performances, looks like England has the best outcome to expect . Have a look at the odds on Belgium, Netherlands, Spain or Germany on the game as well, they are in good position to consider too.