Cricket: Black Caps' fluctuating fortunes reflected in betting odds

Black Caps batsman Ross Taylor in action during day four of the second Test match against Australia. Photo/Getty.

The Black Caps' fluctuating fortunes in the second test against Australia have been reflected in rapidly changing betting odds over the first four days of the match.

Heading into the match following a heavy first test defeat in Brisbane, New Zealand were given little chance of squaring the ledger in Perth.

Brendon McCullum's side were classed as rank outsiders paying $4 against the highly fancied home team who were priced at $1.40, with an unlikely draw starting at $7.50.

Things only looked worse after the Australians skipped out to a strong start, and heading into day two the hosts had shortened to $1.15 and New Zealand ballooned out to a whopping $21, while the draw came in to $5.50.

Going into day three, the tide began to turn slightly, with an Australian victory extending to $1.25, and the Black Caps' prospects shortening to $15, and the draw dropping to $4.25.

The day three batting partnership of double centurion Ross Taylor and the irrepressible Kane Williamson helped swing momentum further in New Zealand's favour, with Australia sliding out to $4 and the visitors remarkably closing in to $6, with the draw down to $1.47.

Despite their best efforts, the Black Caps lost ground late yesterday when Australian captain Steve Smith (131no) and Adam Voges (101no) steadied the ship in their second innings, to send them into today's fifth day at 258 for two, ahead by 193 runs.

TAB bookmaker Mark Stafford has been surprised by the degree of changing fortunes in the test after New Zealand's prospects looked so bleak prior to their arrival in Western Australia.

"We were afforded no chance whatsoever to win, they were paying moon money," Stafford said.

"You don't see this much fluctuation in most test matches, especially when the first team scores 550.

"The other team pretty much goes out to $30 and stays there, or just keeps drifting. And then just as New Zealand boxed on we saw their price drop and the draw drop and then Australia go out.

"And then yesterday, we saw it going back the other way again, and the draw, it's not unbackable at $1.17.

"So it's all up to Steve Smith now, whether he declares or not."

Regardless of the outcome of the second test, Stafford is confident New Zealand's rise in form should alter the betting landscape significantly going into the third and final test at the Adelaide Oval on November 27.

"I think we'll see it a lot closer price-wise for the third test, given the form of Williamson and Taylor, and also the return form of Tim Southee," he said.

"There was a big cloud over him lasting five days but he's bowling really well.

"It looks like we've got the cricket under our belt now that we needed for it to be a really competitive third test."