It's unlikely that the United States Women's National Soccer Team will complete a 3-peat at the 2023 FIBA Women's World Cup, according to the latest betting odds. After the USWNT advanced to the 2023 Women's World Cup knockout stage, the back-to-back champs are no longer favored to win the championship. England now holds that distinction.

England enters the knockout stage as +340 favorites at FanDuel Sportsbook to win the Women's World Cup. The USWNT has fallen to second with +430 odds for the Women's World Cup championship. Spain's +430 odds are the third-best in the field. Germany is a somewhat distant fourth with +700 odds.

The change in the championship odds comes after the USWNT backed its way into the knockout stage. The Women's World Cup favorites at the start of the tournament, the USWNT played to a draw in each of its last two group stage matches.

After shutting out Vietnam 3-0 in their 2023 Women's World Cup opener, the USWNT tied the Netherlands 1-1. On Tuesday, the USWNT barely avoided an upset loss at the hands of Portugal, escaping with a 0-0 draw. Portugal's Ana Capeta hit the post with a shot attempt that would've defeated the United States women in the match's final minutes.

Group play was a different story for England. The English women won all three of their matches, outscoring their opponents 8-1.

England is looking to win its first-ever Women's World Cup title. The USWNT won its third and fourth Women's World Cup championships in 2015 and 2019, respectively.

Just before their second match in group play, the USWNT was a +240 favorite to win the championship. England's +600 odds ranked third.