Warren Gatland's side aren’t fancied for success in Japan despite topping the world rankings.
After beating England in Cardiff at the weekend, Wales became the number one ranked side in world rugby, thus ending New Zealand’s 509-week supremacy.
However, priced at 11/1, Warren Gatland’s side find themselves fifth in the market to win the 2019 Rugby World Cup, which kicks off in exactly a month in Japan.
Those odds mean bookmakers are implying just an 8.3% chance that the Welsh lift the Webb Ellis Cup come November.
Punters clearly see value in that 11/1, with 22% of bets in the last seven days going on Wales. That makes them the most backed this week ahead of South Africa with 18%.
Wales have won 15 of their last 16 tests, including an emphatic Grand Slam victory in the 2019 Six Nations.
That record makes Wales genuine contenders for the biggest prize, but the fact remains that their best effort in the tournament to date was third in 1987 and their highest finish since then fourth in 2011.
New Zealand remain clear favourites to make it three Rugby World Cup wins in a row, with the 2011 and 2015 champions priced at 5/4.
South Africa follow at 5/1 while England (6/1) and Ireland (8/1) make up the other top sides in the market.
Oddschecker spokesperson Callum Wilson: “With the exception of Ireland, all the teams above Wales in this year’s Rugby World Cup market have won the tournament in the past.
“Though Warren Gatland’s side have shown incredible tenacity and most importantly consistency to reach number one, the World Cup is often a microclimate. Form outside of the tournament can go out of the window, and it seems bookies are siding with previous winners as a result.”
Check out the best signup offers and bonuses on our free bets page
