Labour becomes the NZ General Election favourite

CENTREBET MEDIA RELEASE (JULY 28, 2005)

Labour becomes the NZ General Election favourite

Labour is Centrebet's new favourite to win the New Zealand General Election on September 17.

Centrebet's odds on New Zealand's two major parties have flip-flopped over the past 48 hours.

On Tuesday, Centrebet's betting market listed National at 1.80 (4-5) and Labour at 1-90 (10-11).

Today, Centrebet quotes Labour at 1.80 (4-5) to be the prime minister. National is 1.90 (10-11).

"Punters think that Labour's early pledges are vote winners," 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 exclusive odds on last year's Australian Federal Election.

Prime minister 1.80 (4-5)
Labour 1.90 (10-11)
National 201.00 (200-1)
NZ First 501.00 (500-1) ACT

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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