Italy win: 2.60
Draw: 2.80
France win: 3.00
Lets say you bet 200dollars. (100 on italy win and 100 draw)
If italy wins, you wins 260dollars-200=60dollars.
If Draw, you win 280-200=80dollars.
If france win, you lose 200 dollars.
If as assume your 66.66 win rate.
It means 33.3% you will win 60, another 33.3% you win 80 and
remaining 33 you lose 200dollars..
So probable amount you can win is 33.3%*60+33.3%*80-33.3%*200=
-$20.
You will lose 20 dollars.