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Coming into Monday afternoon's big matchup against Paraguay, Italy World Cup odds to win the whole thing were set at +1200 for a US$1200 win on every US$100 bet (or $120 paid out for every $10 bet)
Six other teams, including the Netherlands (paying US$85 for every US$10 bet) after a convincing win over Denmark earlier on Monday, had shorter odds than the 2006 reigning World Cup champions.
At Bookmaker.com, the professional gambling sect was backing Paraguay heavy at +280 to beat Italy on Monday. Recreational punters were backing Italy big time at +115
"That is some pretty good value on Italy, which pays just better than $11 for every $10," says Don Shapiro of Gambling911.com.
Italy is also a favorite to win its respective group.
But Italy has its injury woes and this could be a concern.
Italy playmaker Andrea Pirlo arrived in South Africa with a calf injury that is likely to prevent him from playing before the final group game against Slovakia.
Midfielder Daniele De Rossi should overcome a similar problem to start against Paraguay, while winger Mauro Camoranesi is available after a knee problem.
Disappointing recent results, including a warm-up defeat to Mexico, have eroded the confidence of Italian fans.
Paraguay are looking good coming into their Monday match. Gerardo Martino's men won more games in qualifying than Brazil, including triumphs against Chile, Argentina and the Brazilians.
Alistair Prescott, Gambling911.com
