Gambler takes big punt on Labour

A gambler has bet $50,000 with Australian betting agency Centrebet on Labour winning next month's general election.

The $50,000 bet that Labour will provide the next prime minister is at odds of $1.61 which would return $80,500 if successful.

Labour is now paying $1.53 and National is at $2.37.

Centrebet claims its odds are more accurate than polls. The New Zealand TAB does not accept bets on the election.