The results so far suggest that Winston Peters' New Zealand First party will be able to form a government with National with a strong majority - or a government with Labour (supported by the Greens) with a thin majority.
Things could change by a couple of seats by the end of the night, or by the end of the two-week period for specials to be counted.
But at this stage, Peters resumes the position he has held in most polls this term - kingmaker, albeit with the possible humiliation of losing his own Northland electorate.
It will only take a few seats either way for an Labour-led alternative to a National-NZ First government to be completely viable or completely unrealistic.
With just about 40 per cent of the vote to be counted the two alternatives are a 67-seat National New Zealand First Government (with 61 needed for a majority) or a 62 seat Government.