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The boundary countback method that handed England the Cricket World Cup title has been rejected by one bookmaker, which is refunding punters who backed NZ.

A leading Australian bookmaker is refunding punters who backed New Zealand to win the Cricket World Cup final, describing the method used to determine England as winners an "absolute disgrace".

Sportsbet said it had refunded 11,458 people a total of $426,223 after they supported New Zealand to win the final head-to head, or to win the tournament outright.

England were crowned champions on a little-known boundary countback rule after the dramatic match was tied through 50 overs and then again after a super over.

Communications manager Rich Hummerston said it wouldn't be just for Sportbet to take money from customers that had backed a New Zealand side who effectively didn't lose the game.

"Let's not beat around the bush, for a World Cup to be decided in that manner is an absolute disgrace, and the punters shouldn't have to pay for the ineptness of the ICC,' Hummerston said.