Punter places biggest bet in Australian political history

A PUNTER with online bookmaker sportsbet.com.au has placed what is by far the biggest bet in Australian political history, wagering $750,000 on the Coalition to win September's Federal Election.

Placed at the odds of $1.07, the punter will collect $802,500.

As a result, Labor have ballooned out to $9.50 with to win the September 7 vote - their biggest odds since the 2010 election result and worse odds then when Julia Gillard was in power.

The Coalition are now into $1.06, with just over 89 percent of all money staked on the 'who'll win the Federal Election' market on Tony Abbott's team.

"This is easily the biggest bet ever placed on Australian politics," sportsbet.com.au's Ben Hawes said.

"We took $300,000 on Julia Gillard to win the first Labor leadership battle last year but this blows that out of the water."

"We're holding well over $1.5 million dollars on the Coalition now and there's still almost two weeks to go."

In Rudd's electorate of Griffith, money continues to come to flood in for Bill Glasson to unseat the PM, so much so that there's been 11 times the bets placed on the LNP candidate compared to Rudd.

Rudd has now eased out to $1.38 to retain the seat, with Glasson firming into $2.80. Glasson was as much as $9.00 to win the seat last week.

 

Markets courtesy of sportsbet.com.au

Federal Election winner

  • $1.06   Coalition          (in from $1.08)           
  • $9.50   Labor               (out from $7.50)                    

Griffith             

  • $1.38   Labor              (out from $1.25)             
  • $2.80   Coalition          (in from $3.50)
  • $21      PUP                  (steady)       
  • $51      Any other        (steady)      

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