In-depth: Betting suspended on Eddie Jones for England coach, but is it a done deal?

Bookmaker William Hill said on Tuesday that Jones's odds plummeted from 6-1 to 11-10 after a series of bets that followed the announcement by Australia coach Michael Cheika that he was not interested in the job.

"The gamble suggests that at the very least Eddie Jones is on a shortlist and an announcement could be imminent," said William Hill spokesman Rupert Adams.

Jones took over as coach for the Stormers, a South African Super Rugby side, after the Rugby World Cup. But he is widely believed to be interested on the England role.

And fuelling that fire were the words from Ian Ritchie, the Rugby Football Union chief executive, hwho said last week that England would seek to replace Stuart Lancaster with "proven international experience". Jones is one of the few elite coaches in world rugby who comfortably fits the bill.

The Daily Mail's rugby correspondent Chris Foy has a slightly different take on the reports, writing that, "It is thought talks are in the preliminary stage, so this is by no means a done deal — especially as reports in France have claimed Montpellier coach [Jake] White had a meeting with the RFU last Friday while he was in London.

"So far, [White] e is the only candidate to declare his interest in taking the England job but he also suggested he would be reluctant to go through a rigorous interview and assessment process for a role with the RFU, having missed out on three previous occasions."

On top of that, Jones's current club the Stormers put out a statement on Tuesday afternoon denying that the 55-year-old could leave: "Eddie's position has not changed since his unveiling last week at our media conference," a Stormers spokesman told PA Sport. "Eddie said then that there has been 'no contact and I'm committed to the Stormers'."

He led Japan to their best-ever World Cup showing in England, where they managed three victories, including a 34-32 win over South Africa. He also coached the Wallabies to the World Cup final in 2003 and was an assistant to Jake White when the Springboks won the 2007 tournament.

[CHEIKA SAYS NO: Australia coach Michael Cheika rules himself out of England job]

Jones, who recently took charge of South African Super Rugby side the Stormers, publicly ruled himself out of the England job last week when he arrived in Cape Town - yet he is believed to be open to the idea behind closed doors.

And should he be interested, then the RFU are likely to try and pounce - meaning that former England star Steve Borthwick would also become part of the set-up. As Foy's report adds, Jones, "was heralded as a tactical mastermind after his Japan team stunned the Springboks in their World Cup opener in September. It is understood that, if appointed to replace Lancaster, he would want to bring in his own assistants — raising the prospect of a role for Steve Borthwick, the former England captain who worked wonders with the Japan forwards before joining Bristol."

South African White, who led the Springboks to World Cup glory in 2007, was the early favourite for a job that media reports claim carries an annual salary of £500,000. With those bookies who are still accepting bets he remains a 4/1 second favourite; Waikato Chiefs coach Dave Rennie is third favourite at 8/1; and former Italy coach Nick Mallett and England backs coach Mike Catt are both at 12/1.

Australia coach Michael Cheika declared himself out of the running on Monday in the strongest possible terms, saying that, "I'm an Australian coaching Australia. It's the dream. There is nothing that would change my mind." And he's not the only one to have said an emphatic 'no' to the job: New Zealand's 2011 World Cup coach Graham Henry, All Blacks assistant Wayne Smith, Ireland's Joe Schmidt and ex-Italy coach Mallett have all said they don't want the job.

As for Wales coach Warren Gatland? The New Zealander has repeatedly said he's not interested yet was still linked to the role by Lawrence Dallaglio in the Sunday Times this weekend. As the Western Mail's Delme Parfitt pointed out on Monday, however, he has many reasons to stay loyal to Wales - not least the fact that Wales's chances of World Cup glory in 2019 currently seem a good deal better than England's.

It's all too easy to forget in the bitter disappointment of the host nation's World Cup disaster, but Stuart Lancaster's time as England coach was a breath of fresh air. New, exciting talents were regularly brought through, and the team played with a brand of exciting rugby that banished the side's reputation for dour, forwards-dominated performances.

Yes, there was huge naiveté in Lancaster's side, ruthlessly exploited by both Wales and Australia at the World Cup - and by most of the other big rugby nations over the past few years. But it would be a shame to lose all the positives, and it seems that Jones is probably the best bet on that score.

The idea of White taking over - whose devastatingly effective 2007 Springboks triumphed as much through brutality as skill - will still send chills down the spines of rugby fans. So while his international credentials are arguably superior to those of Jones, it is the Tasmanian rather than the South African who should be the RFU's top choice.