South Africa swung back to bookies' favourite at $1.27, while New Zealand was paying $3.40, when rain set in and the covers came on the pitch at 4.53pm.
Two hours later, the margin had closed when play resumed and South Africa remained the favourite throughout the rest of the innings.
When the total New Zealand was chasing to win was revealed, South Africa were still favourites to win, paying $1.37 to New Zealand's $2.80, until Brendon McCullum took the field.
When McCullum reached 50 runs at 7.48pm the odds swung in the Black Caps' favour. New Zealand was paying $1.40 and South Africa was paying $2.70.
Ten minutes later, the odds became almost too close to call when McCullum was caught out off the first ball of the 7th over and New Zealand was 71 for one. New Zealand was on $1.80 and South Africa was on $1.90.
New Zealand remained the favourites to win for two hours, and were the strong favourite to win at 10.16pm when Grant Elliott made his 50 runs, on $1.16 to South Africa's $4.50.
But the rollercoaster wasn't over, and when 20 minutes later South Africa got their sixth and final wicket with Luke Ronchi departing for eight runs, South Africa were favourites on $1.50 and New Zealand were on $2.40.
At the start of the second-to-last over New Zealand needed 24 runs off the 12 balls remaining to win. The bookies couldn't split them and both teams were paying $1.85.
Looking ahead, Australia were the favourite to win their upcoming semifinal as at noon today, paying $1.40 to India's $2.80.
As for the outright winner of the World Cup, Australia and New Zealand are very closely placed, but Australia remains the favourite to win.
Australia was paying $2.10 at noon today, New Zealand was on $2.25 and India on $5.50.
TAB odds review: NZ v SA
Cricket World Cup Semi Final, Tuesday 24 March 2015
2pm: Match begins
Odds: New Zealand $2.00 v South Africa $1.70
2.18pm: Trent Boult takes the first South African wicket as Amla goes for 10. South Africa 21/1.
Odds: New Zealand $1.70 v South Africa $2.00
2.38pm: Boult takes another as de Kock walks for 14. South Africa 31/2.
Odds: New Zealand $1.62 v South Africa $2.15
3.14pm: Drinks. South Africa 61/2.
Odds: New Zealand $1.80 v South Africa $1.90
4.53pm: Play suspended due to rain. South Africa 216/3.
Odds: New Zealand $3.40 v South Africa $1.27
6.45pm: Play resumes. South Africa 216/3.
Odds: New Zealand $2.70 v South Africa $1.40
7.13pm: Innings Break. South Africa 281/5
Odds: New Zealand $2.80 v South Africa $1.37
7.48pm: McCullum brings up his 50. New Zealand 71/0.
Odds: New Zealand $1.40 v South Africa $2.70
7.58pm: McCullum departs off the first ball of the 7th over for 59 off 26 balls. NZ 71/1.
Odds: New Zealand $1.80 v South Africa $1.90
8.23pm: New Zealand bring up 100. New Zealand 101/2.
Odds: New Zealand $1.70 v South Africa $2.00
8.46pm: Guptill is run out. New Zealand 128/3
Odds: New Zealand $1.90 v South Africa $1.80
9.47pm: 200 up for New Zealand. New Zealand 203/4.
Odds: New Zealand $1.55 v South Africa $2.30
9.57pm: 10 overs to go and New Zealand requires 85 runs to win. New Zealand 213/4.
Odds: New Zealand $1.47 v South Africa $2.55
10.14pm: 50 up for Corey Anderson. New Zealand 237/4.
Odds: New Zealand $1.25 v South Africa $3.50
10.16pm: 50 up for Elliot. New Zealand 241/4.
Odds: New Zealand $1.16 v South Africa $4.50
10.39pm: South Africa get their sixth and final wicket with Ronchi departing for 8. New Zealand 269/6.
Odds: New Zealand $2.40 v South Africa $1.50
10.43pm: Just 12 balls remain and the Bookies can't split them. New Zealand 275/6.
Odds: New Zealand $1.85 v South Africa $1.85
