INDEPENDENT NEWS

Brash Becomes the Election Betting Favourite

Published: Thu 15 Sep 2005 12:57 AM
Brash Becomes the Election Betting Favourite
SYDNEY, Sept. 15 /MediaNet International-AsiaNet/ --
Centrebet's prime minister odds favour National leader Don Brash for the first time since July 26.
Brash has been Centrebet's PM underdog for all bar one day of the official campaign to date.
But punters have wagered more than $150,000 on Brash this week to lift him to favouritism.
Labour's outlook is so bleak that some punters are changing horses and accepting losses.
"You know that you're in trouble when punters who backed your party at short odds several weeks ago switch sides and lock in an election betting loss," 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
1.80 National (Don Brash)
1.90 Labour (Helen Clark)
Log on to http://www.centrebet.com to view its latest odds.
About Centrebet
The southern hemisphere's oldest online bookmaker, Centrebet operates in one of the world's strictest jurisdictions. Australia's Northern Territory Government licenses Centrebet. Its Racing and Gaming Commission monitors transactions for the protection of Centrebet and its clients.
ENDS

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