Tournament hosts England must beat the Wallabies at Twickenham on Saturday to keep their campaign alive and avoid the ignominy of departing a World Cup at the pool stage for the first time.
Despite losing to Wales last weekend, 2003 champions England remain 4-5 favourites to win the match with the twice champion Australians 5-4 and the draw 18-1.
Holders New Zealand, who play their third pool match against Georgia later on Friday, remain even money favourites to retain the Webb Ellis Cup.
Leading tournament odds:
Evens New Zealand
6-1 Australia
7-1 England
8-1 Ireland, South Africa
12-1 France
16-1 Wales
40-1 Argentina
66-1 Scotland
(Reporting by Nick Mulvenney, editing by Ed Osmond)
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