The Wallabies have been listed as surprise second favourites to win next year's Rugby World Cup by the New Zealand TAB.

Opening its book on Tuesday with 500 days to go, the national betting agency made the All Blacks $2.20 favourites, a familiar position for them going into any World Cup, let along a home one.

However, it surprised by quoting coach Robbie Dean's Australian team as second favourites at $4 ahead of defending champions South Africa, whose Bulls and Stormers teams currently top the Super 14 standings.

The Springboks were listed at $4.75.

Six Nations sides fill the next four slots with France, $9 leading the pack.

England, $15, Ireland, $15, and Wales, $20, follow with Argentina, who finished third in 2007, next on $25.

South Pacific Nations Fiji are on $250, and Samoa and Tonga each at $500.

Since winning the inaugural World Cup on home ground in 1987, New Zealand were runners-up in 1995, semifinalists in 1991, 1999 and 2003 and made their earliest exit from the tournament in the quarterfinals of the 2007 tournament.

South Africa and Australia have won twice and England once.

The World Cup kicks off at Auckland next September 9.

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