Team New Zealand may still have the lead in the America’s Cup, but one punter has bet $10,000 the Kiwis will lose.
As more and more punters placed their money on a victory for United States team Oracle in the America’s Cup, the TAB today drastically reduced its odds of a New Zealand victory, yachting bookmaker Kieran McAnulty said.
Following Team New Zealand’s double-loss this morning, Oracle was paying $3 to win against $1.33 for the kiwi team.
As more money was today bet for an Oracle win, the American odds dropped to $2.85 while New Zealand increased its odds to $1.37.
Even with the increased potential payout for a New Zealand win ‘‘no-one is interested’’ in betting on the Kiwis, Mr McAnulty said.
Before racing today, Oracle was paying $7. That dropped to $6 between the two races.
Immediately after the second race, Oracle was paying $3.80 and one punter immediately placed a $10,000 bet on an American win.
‘‘It’s been rare for us to see a bet on Team New Zealand this morning,’’ Mr McAnulty said.
It is a dramatic change for TAB, which the Friday before last thought the America's Cup was all over and closed off betting.
But than Oracle made a ‘‘dramatic turnaround’’ and TAB reopened its books.
While the tide of betting was very much in Oracle’s favour today, things were a little more optimistic yesterday, when a $16,000 bet was placed for the Kiwis to win.
Team New Zealand leads the first to 9 series 8-5, with two more races scheduled for tomorrow morning.
- © Fairfax NZ News
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