Draw expected at the Oval
The draw is now firmly odds-on in the final Ashes Test with Sky Bet following a rain-disrupted second day.
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Play did not get under way until 1430 BST and when it did Australia continued to make good use of a solid batting pitch at the Oval.
They eventually racked up 492 for nine declared, Steve Smith finishing unbeaten on 138 to add to Shane Watson's ton from Wednesday.
England reached the close on 32 without loss but by then both sides' victory chances had reduced.
After the close, the draw was a 2/5 shot. It had been odds-against 24 hours earlier.
Australia drifted to a price-boosted 3/1 for a victory they need to avoid returning home from the five-match series without a win.
England are 5/2 to score 500 or more in their first innings with the same firm, while Sky Bet also offer 10/3 that not-out batsmen Alastair Cook and Joe Root both go on to score 50 when play resumes on Friday.