Bookmakers William Hill cut them from 7/4 to 6/4 (a £25 return for a £10 outlay), with former favourites New Zealand going out from 6/4 to 13/8 and third favourites Australia out to 4/1 from 7/2 following their defeat by South Africa in Cape Town on Saturday.
“We can find no record of England ever having been World Cup favourites since the tournament began in 1987,” said William Hill spokesman Graham Sharpe.
“But their recent form against the All Blacks and the Aussies plus some hefty bets on England have persuaded us that they are now worthy favourites to win.”
Hills make France 10/1 fourth favourites and also offer 14/1 South Africa, 40/1 on Ireland, 80/1 on Argentina; and 125/1 on Scotland and Wales.