Hawthorn's win, at 4.5 to 1, was the final leg of a four-part "multi" bet that also included punts on the A-League and golf, in various events stretching over the year.

The first leg was picking Ricardo Santos as firing the lowest round one score at the African Open golf in February (at 41 -1), followed by backing Dustin Johnson to card the lowest score in the first round of the Northern Trust PGA golf tournament in the US, also in February, at 23-1.

Brisbane Roar's win in the A-League grand final (at 2.35-1) then set the scene for the Hawks' crushing win over the Swans last weekend.

Bookmakers at Tabcorp, which framed the bet, say the win was at the longest odds they had ever offered for a wager of its type. The company will not disclose the identity of the punter for privacy reasons.

The huge win helps set the scene for what bookies are describing as a "fairytale" NRL grand final between two of rugby league's most popular clubs, South Sydney's Rabbitohs and the Canterbury Bulldogs.

Tabcorp chief operating officer for wagering Craig Nugent said that in punting terms, Souths were the most popular team in Australian sport.

Tabcorp is currently offering $1.40 for a Rabbitohs win. "On the flip side with the Bulldogs at $3.00," Mr Nugent said. "In terms of the betting, that's the shortest price, longest price grand final mix we've had."

But there's at least one Australian punter who would have preferred the Roosters making the NRL grand final.

Tabcorp rival Sportsbet reports it had an unlucky loser who was riding a 10-leg multi bet to win $500,000, with Hawthorn and the Roosters winning their respective codes as the final two legs.

Had the Roosters made the NRL grand final, they would have been favourites, according to Sportsbet. But instead they were dispatched by traditional rivals Souths in the semi-final.

The football finals cap what corporate bookmakers say has been a strong year in the local market, helped along by the FIFA World Cup in June and July.

Owned by Irish bookmaker Paddy Power, Sportsbet reported that total bets for the AFL grand final were up 40 per cent on 2013, with the average amount being wagered up 29 per cent.

For the NRL, grand final punts placed through Sportsbet are up 45 per cent on last year overall, and up 80 per cent in the last week compared to last year, the company's head of communications of Ben Hawes said.

As well as conventional bets, Sportsbet is offering odds on special Russell Crowe bets, including on what Souths' celebrity backer will wear to the game and how will he celebrate the Rabbitoh's first try.

Tabcorp's Mr Nugent said that Souths joined Sydney's defeated Swans as the two most popular teams with punters in their respective codes. Accordingly, betting interest during both the AFL and NRL finals had been significantly stronger than during the season, he said.

Tabcorp's average bet for the AFL's big day was $10. As well as the result, punters were very interested in who took home the Norm Smith medal, the outcome of which was the subject of one in three bets Tabcorp took on the game.

"We received 114,000 bets on the Norm Smith medal," Mr Nugent said. "More people had a bet on the Norm Smith [medal] than were actually at the game," he said.

While humiliated by Hawthorn, the Swans had been the punter's firm favourites.  "Money for the Swans was relentless," communications manager for Sportingbet Andrew Brown said.

"At one stage we were considering sending out a search party for Hawks supporters because the cash was coming in 80:20 in the Swans' favour".

Sportingbet, which is owned by British bookmaker William Hill, took a number of five-figure bets on Sydney, including one punter who dropped $20,000 just before the bounce. Rival Sportsbet reports it had a punter take the plunge on Hawthorn to the tune of $47,000 at about the same time.

Sportingbet says that for the NRL grand final it has so far three $10,000 bets and a $15,000 in favour of the Rabbitohs at $1.40, as well as a $20,000 bet on the Bulldogs with 8 points head start.

Sportingbet will have over 200 individual markets on the NRL Grand Final, up from 150 last year.