South Africa, the original favorites, are out. Except for Australia of old everyone who has gotten to the top of the rankings has been pretty keen to slide down them at the first available opportunity. Next it will be up to India (and a little bit to Australia) to keep the musical chairs going or to leave the tournament.
The current odder
Australia 5/2
Pakistan 11/4
England 4/1
India 6/1
Sri Lanka 6/1
New Zealand 8/1
Despite the wins (and the only team to have reached the semis at this point) England seem to have not inspired too much confidence among the bettors.

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