Since late Tuesday night, more than 90% of bets placed with online bookmaker Sportsbet on the Federal Election have been on the Coalition.
The weight of bets has seen the Coalition’s price shorten from $4.25 into $3.75, while Labor’s price has eased from $1.20 out to $1.27.
“There’s no doubt Labor deserve to be favourites, however, we think the election race is closer than what the current odds suggest,” said Sportsbet’s Haydn Lane.
“It seems punters think the Coalition are ‘over the odds’ and are happy to invest on them at what may prove to be an inflated price.
“We turned the Coalition into $3.85 on Wednesday but it’s clear that punters were still happy to take those odds.
“The Coalition has accounted for more than 90 of the past 100 bets we’ve taken on the election.”
The biggest bet on the Coalition in the past 48 hours was $3000 at the odds of $3.85 to collect a possible $11,550 from a new member.
“One punter opened an account on Wednesday, deposited $3000 and placed the lot on the Coalition,” said Lane.
In Two Party Preferred Swing betting, a 1% – 1.99% swing to the Coalition has replaced a 0.001% – 0.99% swing to the Coalition as the new favourite.
Market odds courtesy of Sportsbet
2010 Federal Election – Winning Party
$1.27 Labor (out from $1.20 on Tuesday 27/7)
$3.75 Coalition (in from $4.25 on Tuesday 27/7)
2010 Federal Election – Two Party Preferred Swing
$13 3% or greater swing to Labor (in from $17)
$13 2% – 2.99% swing to Labor (out from $13)
$10 1% – 1.99% swing to Labor (out from $6.50)
$3.55 0 – 0.99% swing to Labor (out from $3.50)
$3.50 0.001% – 0.99% swing away from Labor (out from $3.25 – former favourite)
$3.10 1% – 1.99% swing away from Labor (in from $6 – current favourite)
$6.50 2% – 2.99% swing away from Labor (in from $8)
$9 3% or greater swing away from Labor (in from $16)
See the Sportsbet site here for the latest odds on the 2010 Federal Election
*Update. The odds have gone into $1.10 for Julia and poor old Rudd is out to $6.25.
Anyone a singer? A remix of the 1987 Rick Asley Never Gonna Give You Up would be a massive hit today, titled Rudd Rolled, the lyrics are kinda ironic too.
Sportingbet has promptly opened a market for the Labor Leadership after the announcement last night of a potential leadership spill. The market will close just before this mornings ballot.
Bookies rarely get the odds wrong and looking at what odds Sportingbet have opened up at, Kevin is in a world of trouble.
Keven Rudd $4.20
Julia Gillard $1.20
Click here to see the latest odds
Rudd has lost support from almost the whole Labor party including the unions and is all but out so the $1.20 for Julia Gillard looks to be a sound investment with a quick payout which will likely be the same day as the ballot.
My tip is load up on Julia Gillard before the market closes, then place all your winnings on the Liberals to win this years federal election. Sorry Julia it not going to happen, I think its your voice…
Look at it as a quick 20% on your money, now that’s better than the banks!
Sportingbet is know to be the election betting specialists and this proves they are ahead of the rest as they are the only bookie with todays ballot betting. They offer bets on this year Federal Election and also the Victorian and NSW State Elections. They also have a market for the Liberal leader going into the next election with Tony Abbott paying a slender $1.05
Checkout the Sportingbet site here for more info on election betting and to get the latest odds on the Labor Leadership Ballot, but be quick the betting market will close soon!
*Update see the latest election betting news and odds here
Young Kevin Rudd!
The odds for a Coalition victory at this year’s Federal Election have shortened following the latest Newspoll which showed they are ahead of Labor for the first time since 2006.
Leading online bookmaker Sportsbet now has Labor as a $1.30 drifting favourite – out from $1.16 late last year – while the Coalition has firmed from $5 into $3.40.
“There has been a strong push for the Coalition over the past few months which shows no signs of slowing at the moment, particularly on the back of recent polls” said Sportsbet’s Haydn Lane.
“Labor is still the short-priced favourite in the election betting, however, that has more to do with our current liabilities due to big bets placed on them last year.
“The Coalition look great value at $3.40 and if the bets keeps coming as they have been of late, that price won’t last for long.
“Labor was a short as $1.16 late last year, while the Coalition’s price blew out to $5. That has all changed now.”
Market courtesy of Sportsbet
Next Australian Federal Election
$1.30 ALP (out from $1.16)
$3.40 Coalition (in from $5)
Sportsbet offer up to $200 in free bets just for making an account with them. See their site here for more details on this great offer.
Since late Tuesday night, more than 90% of bets placed with online bookmaker Sportsbet on the Federal Election have been on the Coalition.
