Where the competition is right now
The 2026-27 competition began in August with the extra preliminary round, and by 10 September 2026 the qualifying competition had already worked through the extra preliminary round and the first round qualifying, with the second round qualifying draw confirmed.
Two results from those rounds give a fair picture of the football involved. SE Dons marked their first appearance in the competition by scoring six against Lancing in the extra preliminary round. AFC Greenwich Borough, also debutants, recovered from 3-1 down at Sittingbourne to win a first round qualifying tie. These are clubs several divisions below the Football League, playing in front of a few hundred people, and they are the entire FA Cup until November.
The qualifying competition involves 651 of the 743 entrants. All of them are competing for the 32 places available at the first round proper. That ratio is the single most useful thing to understand about early FA Cup markets: the field is enormous, the sample of published form is thin, and the money involved is small enough that team selection can change on the morning of the tie.
The full calendar to Wembley
These are the round dates published by The FA for the 2026-27 competition, together with the prize money reported for each round.
| Round | Main date | Ties | Clubs | Winner | Loser |
| First round | 7 November 2026 | 40 | 124 → 84 | £47,750 | £15,800 |
| Second round | 5 December 2026 | 20 | 84 → 64 | £79,500 | £21,200 |
| Third round | 9 January 2027 | 32 | 64 → 32 | £121,500 | £26,500 |
| Fourth round | 13 February 2027 | 16 | 32 → 16 | £127,000 | — |
| Fifth round | 6 March 2027 | 8 | 16 → 8 | £238,500 | — |
| Quarter-finals | 3 April 2027 | 4 | 8 → 4 | £477,000 | — |
| Semi-finals | 24 April 2027 | 2 | 4 → 2 | £1,060,000 | £530,000 |
| Final | 22 May 2027 | 1 | 2 → 1 | £2,120,000 | £1,060,000 |
Read the prize column down and you can see why the competition behaves the way it does. A first round win is worth £47,750 to a club whose weekly gate might not cover that. By the semi-final the figure is over a million, at which point the incentive to field a full side has entirely reversed for the clubs that were resting players in January.