Coral reacted to England's stumbling 2-2 draw with Sweden by cutting them to 6/1 from 7/1 to win the World Cup.
A 30-yard cracker from Joe Cole sent England in 1-0 up at the break but another abysmal second-half performance saw the Swedes fight back to get a point.
Marcus Allback headed Sweden level from a corner after 51 minutes before Steven Gerrard, on as a substitute, headed England in front with five minutes left.
But more shambolic defending from a set-piece allowed Henrik Larsson to poke home a 90th minute equaliser.
Nevertheless, the point was enough to see England top the group and set up a last 16 clash with Ecuador although their night was marred by an injury to Michael Owen which could rule the striker out for the rest of the tournament.
"It may seem surprising that we have cut England's odds after yet another average performance but at the end of the day they have topped their group, avoided Germany, and will be hot favourites to make it through to the quarter finals against Ecuador," said Simon Clare, Coral spokesman.
"Oh yeah, and we have multi-million pound liabilities on them as well!"
Sweden's late equaliser was a relief for the whole of the bookmaking industry and disastrous news for a Hills punter who had wagered £40,000 on England to win the match at 11/8.
William Hill make England 1/8 to eliminate Ecuador, who are 9/2 to do vice versa in the next round.
England are 4/11 to win in 90 minutes with Hills, who make Ecuador 8/1, with the draw 13/5.
Hills are even shorter than Coral about England lifting the trophy, offering Sven-Goran Eriksson's men at 11/2 behind 3/1 favourites Argentina and 7/2 Brazil.
Germany, who beat a weakened Ecuador 3-0 earlier on Wednesday, are 7/1 fourth favourites. Hills also offer: 8/1 Spain, 12/1 Italy, 14/1 Holland, 22/1 France, Portugal, 66/1 Czech Republic, Sweden, Switzerland, 80/1 Mexico, Ukraine.
Miroslav Klose netted twice for Germany to make him the tournament's top scorer with four goals and he's now as short as 7/4 with Blue Square to win the Golden Boot.
Fernando Torres, his nearest rival with three, is 4/1 second best.
Gerrard was cut to 20/1 at Stan James
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By Bettingzone.co.uk
Used with permission.
