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Monday October 22nd 2018

Punters pile into Labor for May Election

Online bookmaker Sportsbet have been forced to respond to the amount of money being wagered on Labor to win the Federal Election.

With now 78% of money wagered to date going on Bill Shorten’s party Sportsbet have moved their price in from the $1.30 that was available last week to $1.25.

The Coalition have gone in the opposite direction, the odds swelling from $3.20 out to $3.50 while a hung parliament is now a $3.60 chance, in from $4.33.

When asked about the market spokesman Sportsbet said: Punters are putting their support behind a Labor victory at the election and although May is the most likely date, December and an early election have attracted plenty of interest.

Sportsbet have priced up a May election at $1.50 but support for a December election has taken a dramatic leap firming from $8.00 into $5.00.

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