With the holders taking on the winners of 12 years ago, in-form tipster Phil Kitromilides is predicting a tight game to be level at half time and has a 3/1 anytime goalscorer pick
Spain's talent and success is well documented, and their squad is so strong that world-class players like Fernando Llorente, Juan Mata, and Santi Cazorla are reduced to mere benchwarmers.
France, meanwhile, are a young and exciting side, but there is a growing feeling that should Laurent Blanc be able to harness their raw talent into a coherent unit, they must be capable of not only causing an upset on Saturday, but indeed repeating their triumph of 2000.
The Spanish are naturally odds-on favourites, with Bet365 pricing them at 5/6 (1.83) to win after 90 minutes, while France are priced at 15/4 (4.75) outsiders for this match, having succumbed to their first defeat in 24 matches against Sweden.
Additionally, a draw can be backed at 5/2 (3.50), although a more attractive proposition looks to be investing in a stalemate at half time - available at evens (2.00).
Despite the disparity in the prices to win the match, these two teams are pretty evenly matched in most departments.
Indeed, France's attacking triumvirate of Karim Benzema, Frank Ribery and Samir Nasri is arguably stronger than its Spanish equivalent.
La Roja did beat les Bleus in a friendly two years ago, but have never defeated the French in a competitive match, while Vicente Del Bosque's side have, on occasions, struggled to convert territorial superiority into the only statistic that really matters - goals.
This can ben seen when analysing their last few results, with five of Spain's last six matches all being draws at half time.
On the other hand, France's last three matches have too been stalemates at half time and, given that the opening 45 minutes of major tournament quarter finals tend to be cagey affairs, this looks like a solid selection at a price which would see you double your investment.
For a value bet, the goalscorer market is often the best option, and here it is worth considering the man who scored the goal that won Spain the World Cup, Andres Iniesta.
The Barcelona midfielder is priced at 3/1 (4.00) to score any time and it is expected that he will have plenty of opportunities to get into dangerous areas.
Bolder punters will back him at 17/2 (9.50) to open the scoring but the 3/1 (4.00) on him netting at any time during the game is a safer option and still offers the chance of some healthy returns.
|Draw at Half Time at evens (2.00) with Bet365
Andres Iniesta to score at anytime at 3/1 (4.00) Bet365
Sign up with Bet365 for up to £200 in free bets and back Phil's selections for this game
Phil Kitromilides is a sports broadcaster working on radio and TV in London and Madrid. You can also follow Phil on Twitter