Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Punter bets $50,000 on Labour winning NZ election

9 August 2005

Punter bets $50,000 on Labour winning NZ election

A Centrebet punter today bet $50,000 on Labour winning next month's New Zealand election.

Centrebet reacted by cutting its exclusive odds on Labour retaining power from 1.61 to 1.53.

The Centrebet punter will make a profit of $30,500 if Labour provides the next prime minister.

"I'd be very happy if I was Helen Clark and very concerned if I was Don Brash as election punters don't bet so big so early unless their fancy is miles in front," says Centrebet's Gerard Daffy.

Centrebet specialises in election betting and there is evidence to support its claim that its odds are more accurate than polls. Stanford University's Justin Wolfers and Andrew Leigh, of Harvard, found that Centrebet's odds on the 2001 Australian Federal Election not only forecast the overall result correctly but also provided precise estimates of outcomes in more than 40 electorates.

Wolfers (http://bpp.wharton.upenn.edu/jwolfers) and Leigh ( http://andrewleigh.com) also praised the accuracy of Centrebet's betting odds on last year's Australian Federal Election.

Prime minister 1.53 Labour 2.37 National 501.00 bar

Log on to http://www.centrebet.com to view its latest odds.

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.