<P> The Cricket World Cup is an international cricket competition established in 1975 . It is contested by the men's national teams of the members of the International Cricket Council (ICC), the sport's global governing body . The tournament generally takes place every four years . Most recently, the 2015 Cricket World Cup, jointly hosted by Australia and New Zealand, was won by Australia, who beat their co-hosts New Zealand . The current trophy was instituted in 1999 . It always remains with the ICC, and a replica is awarded to the winning team . </P> <P> Nations with Test status automatically qualify for the World Cup, while associate and affiliate ICC members must qualify through a qualification tournament, the World Cup Qualifier . Though an associate member is yet to reach the final, Kenya did reach the semi-finals in 2003 . Australia is the most successful team in the competition's history, winning five tournaments and finishing as runner - up twice . Twice, teams have won successive tournaments: the West Indies won the first two editions (1975 and 1979) and Australia won three in a row (1999, 2003 and 2007). Australia has played in the most finals (seven out of eleven: 1975, 1987, 1996, 1999, 2003, 2007, 2015). England is the team to reach the final and not win the World Cup most often, ending as runner - up in all three final appearances . </P> <P> Of the twenty teams that have qualified for at least one Cricket World Cup, seven have contested a tournament final . Seven venues have hosted the final; only two of those--Lord's, in London, and the Melbourne Cricket Ground--have hosted multiple finals . India is the only country that has hosted a World Cup final at more than one venue, with Eden Gardens, Kolkata, hosting in 1987 and Mumbai's Wankhede Stadium hosting in 2011 . </P> <P> The inaugural ICC Cricket World Cup final was held on 21 June 1975 at Lord's, contested by Australia and the West Indies . A man of the match performance, including a century from West Indian captain Clive Lloyd coming in to bat at number five with his team 50 / 3, formed the basis of a 149 - run fourth - wicket partnership with Rohan Kanhai . Keith Boyce added a quick 34 and the Australians were set a target of 292 to win in a 60 - over encounter . In reply, Alan Turner hit 40 from 54 deliveries and Australian captain Ian Chappell scored 62 from 93 balls . Australia "contributed to their own destruction" in an innings with five run outs, and the West Indies were crowned the first cricket world champions, winning by 17 runs . Four years later, the West Indies qualified for the final, this time facing England, hosted at Lord's for the second consecutive tournament . An unbeaten 138 from Viv Richards, and support from Collis King in a 139 - run partnership for the fifth wicket, saw the West Indies set England a target of 287 runs to win in 60 overs . A profitable yet slow opening partnership between Mike Brearley and Geoffrey Boycott (the latter taking 17 overs to reach double figures) saw England to 129 . However, following Brearley's dismissal, only Graham Gooch and Derek Randall made a "brief assault" on the West Indian bowling, before a batting collapse, Joel Garner taking five wickets in eleven balls . England ended 194 all out, and presented the West Indies with their second consecutive title, winning by 92 runs . </P>

Most runner up team in world cup cricket