Australia's ambition of hosting the 2022 World Cup was given fresh hope this week following allegations two FIFA members were bribed to vote for the ultimately successful Qatar bid which has prompted an investigation by FIFA's ethics committee.

In the wake of the allegations, FIFA president Sepp Blatter refused to rule out the possibility of a re-run vote, prompting suggestions that Australia, along with other candidates, could be given a second chance.

But Senator Arbib told reporters in Sydney that Australians shouldn't get their hopes up.

"Certainly I think everybody is very cautious about what lies ahead," he said.

"We're not getting our hopes up that there will be a decision to have a new ballot. I don't think we should get our hopes up yet.

"We need to have a chance for these allegations to be heard."

The FFA echoed Senator Arbib's sentiments, claiming the possibility of a re-run vote was only hypothetical at this stage.

"FFA has yet to seriously consider its position following the FIFA President's comments about the 2022 World Cup bidding process," a FFA spokesperson told AAP.

"If and when FIFA makes a decision about a review, FFA will make a decision on what's best for Australian football.

"Until then, it remains a hypothetical question and FFA won't pre-empt the deliberations of FIFA."

Blatter said there was a long way to go before there was any chance of a re-run vote.

"This is an idea circulating already around the world which is alarming," Blatter said. "But don't ask me now, yes or no. Let us go step by step.

"It's like we are in an ordinary court and in an ordinary court, we cannot ask: 'if, if, if'."

Senator Arbib said a re-submission of Australia's bid wouldn't cost any additional money.

"It shouldn't cost us any extra money... all the work has been done in terms of scoping the stadium, all the specifications, the technical work is complete."

He added: "Australia would have put on the best ever World Cup, there's no doubt about it.

"We have the infrastructure, we have the people and certainly there was great disappointment across the country when we weren't successful."