The USWNT is no longer a World Cup favorite after a disappointing group stage performance

The U.S. women’s national team is in the World Cup’s knockout stage ... just barely ... after drawing with Portugal to finish second in Group E.

The Americans, two-time defending World Cup champions, were a few inches away from a premature flight home from New Zealand after Portugal hit the post in stoppage time.

» READ MORE: The USWNT’s failure over its last two World Cup games could make its next one its last

Their play has been far from great. And their celebratory response to getting through to the knockout stage was enough for USWNT legend and South Jersey native Carli Lloyd, working as a broadcaster, to question the level of passion on the team.

While there should be a collective exhale for USWNT fans, there’s reason for concern. Finishing second in the group means the path to a third consecutive World Cup victory is now a lot more difficult.

The U.S., which entered as a favorite to win the competition, is barely favored to get out of the round of 16, where a showdown Sunday morning with Sweden awaits.

Here’s a look at where the U.S. stands in World Cup futures markets as the group stage nears its ending.

The U.S. entered the Australia-New Zealand World Cup as a +225 (2.25/1) favorite to win the trophy.

On Wednesday morning, the U.S. was tied for second on the BetMGM odds board with Spain at +400. The new favorite? England at +333. Over at FanDuel, England was +340, the U.S. was +430, and Spain was at +470.

Six teams had odds of 10/1 or shorter at BetMGM: England (+333), United States (+400), Spain (+400), Japan (+800), Germany (+900), and Australia (+1000).

Sweden, Sunday’s round of 16 opponent for the USWNT that dominated Group G, is down the board at +1800.

Soccer odds offer multiple ways to wager, and the simplest one, “to qualify,” allows you to pick which team gets through to the next round. The U.S. was -185 Wednesday morning to get past Sweden (+130).

That’s a pretty short round of 16 favorite for a team that was expected to win the competition.

As for the three-way money line for Sunday (90-minute result):

It’s a pretty tight matchup between two of the better women’s soccer teams in the world. The goal total was at 2.5 goals (+120 to the over, -165 to the under), so oddsmakers are expecting a low-scoring game.

Sunday vs. Sweden is likely a much earlier major test than U.S. soccer fans predicted and would have hoped for. But it beats the alternative.