UPDATED 5.15PM: The Hawke's Bay angler who failed a lie detector test over his monster marlin catch will finally get his prize.

David Baty from OddsOn Promotions has just contacted Newstalk ZB to say he is now going to pay out the $48,000 dollar prize.

Dean Young caught the 136.6kg Marlin during a competition over Waitangi Weekend, but had to take a polygraph test to prove it was legitimate, and failed.

LISTEN ABOVE: Dean Young talks to Larry Williams

MORE: Newstalk ZB journalist Annette Hilton talks to Larry Williams

Mr Baty now said he got the lie detector test peer reviewed, and he can no longer rely on the results.

"The information I have from the States is that he needs more training. I have had it peer-reviewed overseas, and basically his trainer has come back and said that there are flaws with the polygraph test.

"Now I have a report that says that basically it's very difficult to base a decision on whether he was truthful or not truthful based on that test. It's too near the margin of error"

Mr Young said it's a huge relief.

"Feel relived. Glad it's over and glad Mr Baty's comes to his senses and found out that those polygraph tests are a load of cods wallop"

The crew behind Dean Young is just as thrilled with the result.

The three other men on the boat were prepared to take lie detector tests to prove their honesty.

Dean's father and boat owner, Tony Young said they're really pleased.

"It was about clearing our name an integrity more than the ute. The ute comes second. Te just wanted to clear that we fished to the rules and fished honestly and we weren't going to accept being called cheats and liars by anybody".

He said this whole saga will make him think twice about entering fishing tournaments when insured prizes are on offer.

Tony Baxter was fishing around Dean Young's boat all day, about a hundred metres from Cape Kidnappers.

He said the boats were well within the tournament boundaries when Dean hooked up.

"We actually saw them, they were inside us, we cruised past them and gave them a wave and the thumbs up for their effort. We were pretty rapt for them they all waved back and looked pretty excited".

Dean Young and his crew outside the Hawke's Bay Sports Fishing Club with Dean's prize Photo / Annette Hilton

Mr Baty sympathies with Dean Young and his crew.

"They've probably been feeling like shit for the last three weeks and I apologise for that but as I said I was mislead in terms of the polygraph testing".