Online bookmaker sportsbet.com.au has again cut the Coalition’s odds to win the July 2 election, winding them in from $1.17 to $1.12.
Labor is on the drift, out from $5.00 to $6.25, and is now at its longest odds since Sportsbet opened its federal election market in the days following Tony Abbott’s win over Kevin Rudd in 2013.
Labor started the eight week campaign priced at $3.25 and got as short as $2.95 one week in, but has been on the slide ever since.
With the Coalition’s odds cut into $1.12, Malcolm Turnbull has returned to the honeymoon odds he experienced in the weeks and months following his toppling of Tony Abbott.
Sportsbet has now taken almost nine times the money on the Coalition to win the election compared to Labor, with 99% of the money this week backing a Turnbull win.
“Heading into tomorrow’s third leader’s debate, on Facebook, Bill Shorten will need to pull a rabbit out of his hat if he is to turn this around with punters only having eyes for the Coalition,’’ said sportsbet.com.au’s Ben Bulmer.
“With the polls remaining locked at 50/50, Labor should be good value at $6.25 but punters are having none of it and are instead taking the better than interest rate odds on the Coalition, for what they think will be a certain win.”
Markets courtesy of sportsbet.com.au
Sworn In Government
$1.12 Coalition
$6.25 Labor
View the Federal Election markets