LONDON—British bookmakers slashed the odds of the United States winning the World Cup seconds after the team recorded one of the most memorable upsets in the tournament's history Wednesday.
The Americans beat strongly-favored Portugal 3-2, leaving bookmakers scrambling to adjust odds.
"We cut their odds 30 seconds after the game. It was against the run of play and it turned their first-round group on its head," William Hill spokesman Graham Sharpe said.
"Not many teams start at 300-1 and are shortened so much. It's recognition that we completely underestimated their chances, as did Portugal."
Ireland's odds were also cut dramatically after its 1-1 draw with Germany, with William Hill listing the Irish at 66-1, down from 80-1.
The bookmaker now makes Brazil and Italy joint favorites at 7-2 followed by Argentina (4-1), France (11-2), Spain (13-2) and Germany (14-1).