Despite the odds, he expected strong interest from punters, who will also get a shot at a $1000 prize for the top five most accurate picks.
"People love their football and are absolutely fired up about it."
As no one could enter the contest more than once, Mr Stafford also expected a level playing field.
"I'd argue the regular sports viewer could even have a better chance than the experts, because the experts just won't be able to see Brazil losing to Iran."
The World Cup is the TAB's busiest event, attracting even more betting than a Rugby World Cup.
While the All Whites, the unbeaten fairytale team of the last World Cup, won't be in Brazil, New Zealand soccer will still be a big winner from this year's tournament.
More than $26 million was bet in New Zealand on the last World Cup, and the TAB gave more than $500,000 to New Zealand Football in the fee paid to local sporting bodies when the TAB takes bets on their sport.
"The contribution of the TAB makes a major difference to the development of our game at grassroots level," New Zealand Football boss Andy Martin said.
Brazil are the $3.75 favourites to win the tournament, ahead of Argentina at $5 and Germany at $6.50.
The World Cup starts with hosts Brazil against Croatia on June 13, and entries for the TAB's contest close the day before. To enter, visit www.tabchallenge.co.nz.