Punters put money on Coalition
The Coalition may soon hit Black Caviar odds of winning the election, with Sportsbet.com.au spokesman, Haydn Lane, saying the odds of a win to the opposition had shortened in the hours following the election announcement.
"The Coalition were at $1.30, but by late in the afternoon they were at $1.25, so punters would get a 25¢ return for every dollar bet.
"They'll be hitting Black Caviar odds in the near future if this keeps up, with the thoroughbred installed at $1.15 for its race in February."
Illustration: Rocco Fazzari
Labor was at $3.75 yesterday afternoon.
Bets on which month an election would be called had stagnated until early this morning, when there was a flurry of bets on September, its odds shortening from $1.67 to $1.50.
"Clearly, some people were in the know," Mr Lane said.
Meanwhile the Sportingbet Australia chief executive, Michael Sullivan, said Tony Abbott's odds of winning were slashed from $1.26 into $1.22 on Wednesday.
"We actually thought there would be some support for the ALP after the announcement but they've drifted from $3.75 to $4.15 and we can't find anyone interested in backing them," Mr Sullivan said.