2025 Ballon d'Or Odds: PSG's Ousmane Dembele favored

The Ballon d'Or is the most prestigious individual award in global soccer, and winning it at least once is a requirement for any player who wants to be known as one of the greatest of all time.

The duo of Lionel Messi and Cristiano Ronaldo dominated the winners list between 2008 and 2023, as the two combined to win 13 of the 15 awards in that span.

But with neither Messi nor Ronaldo playing in the world's biggest competitions, who is in the running to win the 2025 Ballon d'Or? Let's look at the latest odds ahead of the presentation ceremony on September 22nd, 2025.

2025 Ballon d'Or Odds

Ousmane Dembele	-138
Lamine Yamal	+100
Mohamed Salah	+2500
Raphinha	+3300
Kvicha Kvaratskhelia	+4000
Pedri	+2500
Kylian Mbappe	+2500

Paris Saint-Germain striker Ousmane Dembele just led his team to lift the first UEFA Champions League trophy in club history, and he's now the favorite to win the Ballon d'Or.

Dembele scored 29 goals and provided 12 assists between France's Ligue 1 and the UEFA Champions League, benefiting from coach Luis Enrique moving him from the wing to center forward. He came up big in the latter stages of the UEFA Champions League, providing two assists in the quarterfinals, scoring one and assisting one in the semifinals, and laying on another pair of assists in the 5-0 demolition of Inter Milan in the final.

FC Barcelona wonderkid Lamine Yamal (+100) is second in the odds. He scored 14 goals and provided 16 assists in Spain's La Liga and the UEFA Champions League, and he caused defenses problems in every game with his dribbling ability, decision making, and ability to draw defenders out of position.

Liverpool right winger Mohamed Salah (+2500) and Barcelona left winger Raphinha (+3300) are third and fourth in the odds.

Salah dominated the Premier League in his first season under new Liverpool head coach Arne Slot, scoring 29 goals and providing 18 assists. He had three goals and four assists in nine UEFA Champions League matches, but his team was knocked out by eventual winners PSG in the round of 16, which hurt his Ballon d'Or chances.

Raphinha reached his best in his first full season under Barca coach Hansi Flick, playing on the left wing and scoring 31 goals with 17 assists between the domestic league and continental competition. He scored twice in a 4-3 win over Real Madrid in La Liga matchweek 35, and it was one of his 10 multi-goal games this season.

Fifth in the betting is PSG left winger Khvicha Kvaratskhelia (+4000). He'll get two league winners' medals, as he left Serie A champions Napoli midseason to join the biggest team in France. The Georgian international posted five goals and three assists in 17 Serie A appearances, four goals and three assists in 14 Ligue 1 matches, and three goals and two assists in nine UEFA Champions League matches, including a goal in the final.

The next tier of contenders, tied at +4000 each, are Barcelona midfielder Pedri and Real Madrid forward Kylian Mbappe. Pedri played over 3,500 minutes while helping his team win La Liga,and Mbappe was La Liga's top goalscorer in his first season there.

Odds displayed within this article were correct at the time of writing and are subject to change.