Fabio Capello's side will be joined by hosts Ukraine, Sweden and France in Group D for the finals next summer where they are 2/5 to qualify for the next stage.
Betfred boss Fred Done said: "It's a good draw for England and they should expect to progress into the knockout stages of the competition. They have dodged a huge bullet with Group B which looks like the real group of death."
Betfred are offering customers 7/1 for England to pick up maximum points in Group D, however, if you are not as confident in their progression, they can be backed at 7/4 not to make it out of the group.
To Win Euro 2012
Czech Republic 50/1