Election Betting

From a look at the betting markets, punters seem to have lined up with pundits to call this week a nil-all draw.

Long shot: Punters still can't see Tones going the distance. Photo: Gary Ramage

While the campaign descended into a Fromelles-style bloodbath, the negativity of both sides also stagnated the head-to-head betting market and we’ll go to the polls with Labor paying $1.28 to win, and the Coalition pegged at $3.60.

You’ll remember that last week saw Julia Gillard’s campaign finally stem the haemorrhaging that saw her odds on next PM drift out to $1.62, which was as bad as they got under Rudd. Once Sportingbet took over $400,000 on Labor in a week including a bet of $200,000, they were always going to head into the election as favourites.

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  • MarK says:

    09:44am | 21/08/10

    Cheers Carnegie i will look that up. Read more »

  • Carnegie says:

    07:30am | 21/08/10

    Hi MarK, Just in case Michael doesn’t get back to you - I have watched the markets closely for the past couple of months. Just prior to Rudds axing it was Labor $1.50 Coalition $2.60, within 24 hours of Gillards instillation it was Labor $1.25 Coalition $4. The next big… Read more »

 

In the hours following Sunday night’s Leaders Debate, a strange thing happened: punters started backing Tony Abbott for the first time since the election was called last Saturday.

Julia by a nose…or maybe Abbott by an ear. Photo: Getty Images

In doing so, they not only pre-empted yesterday’s Newspoll but confirmed most of the analysis about the Opposition leader’s performance in the papers: it could’ve been a lot worse.

As someone who has been taking bets on elections for years, it was a hard to imagine a bigger game changer in a betting market than when the ALP changed jockeys just weeks out from this election campaign.

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  • Freeman says:

    09:25am | 28/07/10

    Seano, bookies often loose, and can be bankrupted. larger betting agencies never loose, no matter what the result. as there payout to the winners = betts invested from both sides -10% which is their profit. bookies are forced to offer similar odds to the larger betting agencies. Read more »

  • Joel says:

    08:14am | 28/07/10

    @Beagle.  You really are like a beagle arent you?  Stupid, stubborn and unable to see the facts when they are right in front of your nose.  Go away you annoying little man. Read more »

 

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