'I bet on my president to win'

2004-09-28 12:56

Sydney - An Australian punter has wagered a record $140 000 or Aus$200 000 on Prime Minister John Howard to win a fourth term as prime minister despite a new poll on Tuesday showing the government trailing Labour only 11 days before the election.

Betting agency Centrebet said the wager, by a punter in New South Wales state, was the biggest election bet it had taken, easily eclipsing a successful Aus$90 000 wager on Howard's conservative Liberal-National coalition to win in 2001.

The Aus$200 000 punter will make a profit of Aus$66 000 if Howard retains the prime ministership at the October 9 election.

The largest bet so far on Mark Latham leading Labour to victory is one laid earlier this year for Aus$30 000 at Aus$2.10 dollars to one dollar.

A winner would reclaim the original dollar plus 1.10.

The big bet on Howard reduced odds of a coalition success to Aus$1.28 from 1.33 while Centrebet is now offering Aus$3.30 on Labour from Aus$2.70 late last week.

Rival betting agency Sportodds is offering the same price as Centrebet on the conservatives and Labour, while Sportingbet Australia has the conservatives on Aus$1.37 and Labour at Aus$2.85.

Centrebet form analyst Gerard Daffy said the agency had taken around Aus$800 000 dollars on the election outcome - about as much as was wagered on last weekend's Australian Football League grand final.

- AFP