The All Blacks go into the Rugby World Cup a clear $1.72 favourite with Australian betting agency Centrebet.
But unlike previous tournaments, punters on both sides of the Tasman have shown caution with their dollars.
"The All Blacks opened $2.30 a very long time ago, and have been as short as $1.50 at the height of their build-up, but they've eased to $1.72 with a couple of lacklustre performances coming in," Centrebet media chief Neil Evans said.
"And there's been thousands of bets taken over many months, but $10,000 outright is about the biggest. Clients from Christchurch, Auckland, Dunedin and across Australia have put down scores of bets anywhere from $100 to $5000, but refuse to go off early when it comes to the monster cash.
AdvertisementAdvertise with NZME.
"They burnt their fingers big-time on the All Blacks early in 2007 - I remember wagers of over $200,000 - but this time they're not obsessed by NZ's odds-on favouritism, almost respectful of the massive anticipation levelled on the team from one end of the Shaky Isles to the other."
Evans said the Wallabies are closing all the time and had firmed heavily from $4.50 into $3.85 before easing back out today to $4.
Defending champions South Africa are well back on the third line at $9, with 2003 champion England out at $15.
"It's a simple fear for all NZ Rugby fans," said Mr Evans.
"Some 24 years after they won the inaugural tournament, they can either draw level with the Wallabies and Springboks on two, or painfully watch one of those countries win it for an historic third time."
And in what might be a little concern for All Black fans, Evans said the money was 3:1 Tonga's way just hours from their opening Group match.