The 2024 T20 World Cup in the United States and the Caribbean was a roaring success, as was the 2026 one in India earlier this year. With talk circulating about restricting the number of teams in the ODI World Cup next year, the T20 event continues to shape up as the best chance for smaller cricketing nations to make their mark on the biggest stage.
It feels a bit absurd to be talking about a tournament that’s still more than two years away, but bookmakers don’t wait around, and neither do fans. The 2028 Men’s T20 World Cup, co-hosted by Australia and New Zealand from October to November that year, already has a shape to its outright market, and three teams are doing most of the running: India, Australia, and England. The year will also see this format debut at the Olympics, and not surprisingly, the Big Three are favourites there too.
Why India are the No. 1 Favourite
Anyone who’s been tracking IPL match odds this season will already have a decent handle on why India sit at the top of most of these markets — depth of white-ball talent is basically their default state right now. Backed by a squad that just won the 2026 edition on home soil to add to the crown they won in 2024, India are being priced as short as +125 by some books, which is a striking price for a tournament still years out. That kind of pricing usually reflects a settled core group rather than a single good year, and India currently have both.
What About the Aussies?
Australia sit second in most books, generally around +400, and the logic there is straightforwardly about location. Australia have hosted this tournament once before, in 2022, and if rain doesn’t interfere, home conditions in Australia and New Zealand tend to suit their bowling attack and their power-hitters more than they suit Asian sides built around spin and precision. Their squad also skews towards players who’ll still be near their peak in 2028 rather than winding down, which matters for a tournament this far off — a team priced on current form alone would look very different two years out.
Can England Do Anything?
England round out the leading trio, generally around +600. They’re chasing a third T20 World Cup title (they won in 2010 v Australia and 2022 v Pakistan), which would be a genuinely historic achievement matched only by India and West Indies, and they’ve got the deepest, most explosive batting line-up in white-ball cricket when it clicks. The uncertainty with England isn’t really about talent, it’s about consistency — recent tournaments have shown flashes of brilliance mixed with baffling flatness, and their bowling attack has real questions to answer, especially if senior players retire before 2028.
Other Possible Candidates
What’s notable is who’s priced just outside this trio. South Africa and New Zealand are usually grouped together around +700, both perennially strong but without quite the same title-winning pedigree in this specific format. Pakistan, West Indies, and Sri Lanka trail further back, priced more on potential than recent output.
It’s worth being honest about how soft these numbers really are. Two years is an enormous amount of time in T20 cricket — injuries, retirements, and a couple of qualifying tournaments will reshape most squads before a ball is bowled in Australia. Early markets like this are really pricing in reputation and current squad depth more than anything specific about 2028 conditions, which is why the same three names tend to sit at the top of every version of this market you’ll find.