Heading into the tournament with their lowest ever FIFA ranking of 22, following a series of poor results in friendlies since their failure at the 2011 Copa America, Brazil won all five matches they contested at the traditional World Cup warm-up tournament.
And their 3-0 demolition of Spain in the final was the reigning world and European champions' first loss in 27 matches, dating back to November 2011.
During that period the all-conquering Spaniards had become the first nation ever to win three successive major tournaments after adding the Euro 2012 title to those won at Euro 2008 and the 2010 World Cup in South Africa.
But Brazil - with their star strikers Fred and Barcelona-bound Neymar scoring nine goals between them for the tournament - made Spain look second rate in the final as they won their third straight Confederations Cup.
|Brazil to win the World Cup at $4.40 at Betfair
||Spain to retain their title at $6.80 at Betfair
Brazil are also the record five-time winners of the World Cup but have not lifted the game's biggest prize since the 2002 tournament in Japan and South Korea - having bowed out in the quarter-finals in the past two tournaments in Germany and South Africa.
However, they will be desperate to win the World Cup on home soil for the first time, having been runners-up when last hosting the tournament in 1950 while Argentina, on their own turf, won the last World Cup staged in South America in 1978.
But after their demolition of Spain, combined with home ground advantage, the bookies now have Brazil as clear favourites to win world football's biggest prize next year.
The hosts are now the only team priced under $6 at Betfair where they are the clear $4.40 favourites - in from $5.20 - and have attracted nearly 25 percent of money wagered on overall tournament betting so far.
Argentina are the second favourites at $6.20, alongside three-time winners Germany, while Spain are now fourth favourites at $6.80 - having at one time being as short as $4.60.
And while the betting at the top of the market is closer elsewhere, Brazil are still the team to beat.
The South Americans are $4.33 favourites at sportsbet.com.au, with Argentina at $5.50 and Germany and Spain both at $6.50 the only other teams under double figure odds.
And at the TAB it is $4.50 for Brazil, $5 for Spain, $5.50 for Germany and $6 for Argentina.
Australia, one of the few nations to have already secured their qualification for the 2014 World Cup, are priced at $101 at the TAB but much bigger odds of $251 at Sportsbet.com.au and $280 at Betfair.*Note prices subject to change