Labor’s odds of winning the election have been wound out to $7.00 after sportsbet.com.au punters reacted to the release of Labor’s costings and the latest Newspoll.
• Labor wound out to $7.00 after Chris Bowen released costings.
• Coalition into $1.10, its shortest odds since the campaign began.
• Labor favourite to secure 34-35.99% primary vote, Coalition 41-43.99%.
Since Sunday, 99% of the money on Sportsbet’s Sworn In Government market has been backing the Coalition, with its odds cut from $1.15 into $1.10, the shortest price since the campaign began.
Labor made up ground last week, but has today drifted from $5.50 out to $7.00, its longest odds since Sportsbet opened its next Sworn In Government market in September 2013.
In Sportsbet’s Primary Vote markets, Labor is favourite to secure 34-35.99% of the primary vote, which has been cut from $3.00 to $2.00.
The Coalition is favourite to secure either 41-41.99% or 42-42.99%, with both results paying $3.75.
The Greens’ chances of securing a primary vote of either 10-10.99% or 11-11.99% are now the $4.00 equal favourites, but have drifted.
“Sportsbet punters have jumped off Labor after Chris Bowen revealed the Budget would be $16.5 billion worse off if he was Treasurer, with $99 in every $100 being staked on the election since Sunday predicting a Coalition win,” said sportsbet.com.au’s Ben Bulmer.
View the Federal Election markets