Bulgaria has a long history in the Eurovision Song Contest but has not won the competition since 1990, when Lilia Ivanova claimed victory. The 2026 edition will take place on May 16 in an as-yet-undetermined European city and will feature participating nations submitting both televote and jury vote tallies. The televote component represents votes from the public audience across all participating countries, which combines with professional jury voting to determine the final contest ranking. Bulgaria's current 1% chance reflects notably low odds compared to traditionally strong Eurovision performers and indicates that prediction markets view the country as a significant longshot heading into the 2026 contest. The odds have remained stable at this low level throughout the pre-contest period, given Bulgaria's recent Eurovision performance history and the strong field of competitors expected to compete in 2026. This market resolves when the official Eurovision Song Contest televote results are announced on May 16, 2026. Traders are actively speculating on whether Bulgaria will manage to secure the televote win against competitors from across Europe and beyond, with current market pricing implying that Bulgaria faces formidable odds against traditional Eurovision powerhouses and established favorites.