Bookmaker halves odds on NZ hosting World Cup

May 12 2005

Bookmaker halves odds on NZ hosting World Cup

Australian bookmaker Centrebet has halved its odds on New Zealand hosting the 2011 Rugby World Cup following significant betting support for the Kiwi bid, both from home and abroad.

Centrebet says that New Zealand is 7-1 (from 14-1) to get the green light from the International Rugby Board. Japan is the bookmaker's 2-5 favourite (from 1-3). South Africa is 5-2 (from 9-4).

"The Kiwi bid remains the outsider but punters, not just those with All Blacks jerseys in their wardrobes, think that New Zealand has a genuine chance," says Centrebet's Gerard Daffy.

Centrebet specialises in election betting and there is independent 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 prices on the 2001 Australian vote 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), currently working out of the University of Pennsylvania, and Leigh (http://andrewleigh.com), now attached to the Australian National University, also praised Centrebet for the accuracy of its odds on the 2004 federal election.

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

About Centrebet One of the world's oldest online sports bookmakers, Centrebet's explosive growth continues 13 years on from its launch. Punters from all four corners of the globe are flocking to Centrebet because of its great odds, exhaustive range of options and guaranteed payment of winnings.

Centrebet operates in one of the world's strictest gaming jurisdictions. Australia's Northern Territory Government licenses and regulates Centrebet. Its Racing and Gaming Commission digitally monitors all transactions for the protection of Centrebet and its worldwide clients.

ENDS

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