KEY POINTS:
Australian bookmakers have the National Party as hot favourites to win the November 8 election.
After Prime Minister Helen Clark announced the date today, bookmaker Lasseters Sportsbook said it expected National to topple her government.
Lasseters offered odds of $1.28 on a National Party win.
It had opened its election market in February with National at $1.45 to win and Labour at $2.70, but the Government has now drifted to rank outsider at $3.60.
In New Zealand, online prediction market iPredict put the probability of John Key being next prime minister at 72 per cent, with Miss Clark rated a 27 per cent chance.
On the iPredict market, New Zealand First leader Winston Peters was rated a 62 per cent probability of resigning or being sacked as Foreign Affairs Minister before election day.
On Monday, that was rated a 92 per cent chance of taking place.
Set up as a research tool by Victoria University of Wellington and think tank ISCR, iPredict users trade on their predictions on political and business events.
Contracts pay $1 if an event comes true, and nothing if it does not.
- NZPA