bet365 have cut England into 15/2 (from 8/1) and trimmed Holland from 10/1 into 9/1 in their outright market.

bet365 spokesman Steve Freeth: "We've been amazed at how lively the outright market has been since the unveiling of the 'Penalty Payback' offer* and the stats suggest we should be preparing ourselves to return at least three lots of outright stakes during the tournament.

"Let's be honest, England and Holland have both had their troubles from the spot in major tournaments over the years, but the prospect of returned stakes in such an event has given punters a safety net and we've been forced to take action."

2010 World Cup Outright Odds at bet365

Spain 4/1
Brazil 9/2
Argentina 13/2
England 15/2
Holland 9/1
Germany 12/1
Italy 16/1
France 20/1
E/W ½ - 1,2

*bet365 World Cup Penalty Payback
Place a bet on the Outright Market for the 2010 World Cup and if the team you back is eliminated on penalties bet365 will refund your losing bet. Offer applies to both win and each-way bets.

Available throughout tournament until World Cup Final kicks off.