Co-hosts United States have already secured their place as Group D winners but second spot is still up for grabs and both Paraguay and Australia could claim the runners-up position.
The Socceroos currently hold second and if they avoid defeat they will automatically qualify for the last 32.
Paraguay have three points on the board and a point would probably be enough for them to progress as one of the best eight teams who finish in third place in their groups.
Best Bet - Draw @ 13/10
Alternative Bet - Correct Score 0-0 @ 3/1
Bet Builder - Diego Gomez over 1.5 shots, Connor Metcalfe 1+ shots on target & Andres Cubas to commit 2+ fouls @ 11/2
Best Bet: Draw @ 13/10
Paraguay suffered a bruising 4-1 defeat to USA in their opening game, but managed to scrape a 1-0 win over Turkey in their second game despite seeing Miguel Almiron dismissed in the second half.
Australia opened their World Cup bid with an impressive 2-0 win over the Turks. They did soak up a lot of pressure in that game and they looked strong on the counter.
The Socceroos also lost to the USA as they went down 2-0 but they showed resilience in the second half and put the Stars and Stripes under serious pressure in the latter stages.
On the basis of the performances of these two sides so far in the tournament, Australia look the more likely winners, but there is a good chance both of these teams will settle for a point.
Australia would definitely take a draw as that keeps them in second place because they can't finish top of the pile.
La Albirroja know a win would guarantee progress, but a point would boost their chances and in all likelihood any team that finishes in third place with a four-point haul will move on to the knockout stages.
Alternative Bet: Correct Score 0-0 @ 3/1
Australia aren't necessarily a team who are built to play for a draw, but the result could be dictated by Paraguay here even if they are the team who have more to gain by winning.
Almiron will miss Friday's game with Australia due to suspension and he is one of Los Guaranies' key attacking outlets.
With Almiron missing there is a good chance the South American nation will defend in numbers and focus on keeping a clean sheet.
They should be able to keep the Socceroos quiet, particularly as the Australians have nothing to gain by taking any risks in attack by committing men forward.
Paraguay conceded just 10 goals in 18 qualifiers in South America and Australia have kept two clean sheets in their last six games.
This contest is one that feels like a bore draw is a very real possibility.
Diego Gomez over 1.5 shots
Connor Metcalfe 1+ shots on target
Andres Cubas to commit 2+ fouls
Pays 11/2
There is a good chance that both teams will defend deep and that should result in more attempts from range.
That means a couple of midfielders may try their luck from distance and for Paraguay Diego Gomez should be able to register at least two attempts.
Gomez has had five chances across his two games so far and he averaged over a shot per game for Brighton in the Premier League.
Australia midfielder Connor Metcalfe has recorded a shot on target in both of his appearances and he can keep that streak going.
La Albirroja midfielder Andres Cubas has committed a hefty 10 fouls already in the tournament and he averages over two fouls per-game in MLS.
Two or more infringements from Cubas seems likely.
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Australia are unbeaten in five previous meetings with Paraguay (W2, D3)
Paraguay lost just four of their 18 South American qualifiers
Australia have lost two of their last six matches
Paraguay have kept three clean sheets in their last five games
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This article was written by a partner sports writer via Spotlight Sports Group. All odds displayed on this page were correct at the time of writing and are subject to withdrawal or change at any time.