One punter has wagered $1 million on West Coast at $1.01 to beat first-year AFL team Greater Western Sydney on Sunday, for a potential profit of $10,000.

The Giants have been beaten by 63 points by Sydney and 129 points against North Melbourne, prompting Tabsportsbet to not even offer a head-to-head market ahead of Sunday’s clash at Blacktown.

Sportingbet Australia and Centrebet have both listed West Coast at $1.01 and the Giants at $26 to win, with Sportingbet Australia luring one punter to put down a seven-figure bet to chase what looks like a sure bet on the Eagles, who lead the competition after two rounds.

Sportingbet Australia chief executive Michael Sullivan said the punter shouldn’t be losing any sleep over his wager.

“It is very rare taking $1.01 looks a good bet but I think in this case the punter has actually got overs,” Sullivan said.

“West Coast have been brilliant in the opening weeks of the competition and GWS still have a long long way to go to be competitive at this level.

It really does just look a matter of West Coast by how far and most are tipping plenty.”

Sportingbet have West Coast at $1.03 to win by 40 points or more, $1.05 to win by 60-plus and punters have to give up 101.5 points start to get even money about the Eagles.