According to the Bookies, the Election Is Already Over

Pack ‘er up, boys! The Coalition have already won. That’s according to the numbers Australian betting agencies are seeing.

Sportsbet, William Hill and Tabcorp have all placed an unlikely Labor victory between $6 and $7 odds, while The Coalition are sitting between $1.10 and $1.12. Ouch.

Sportsbet spokesman Will Byrne told the AFR it’s looking pretty grim for the Labor Party.

“They say it’s not over until the fat lady sings, but looking at the betting she’s already on stage clearing her throat,” he said.

“We’ve had 10 time the money on the Coalition versus Labor, but we’ve had three times as many punters backing Labor as they are chasing the better odds.”

There’s been some pretty insane wagers, too. One bet for a Coalition victory totalled a ridiculous $50,000 at $1.35 odds. Immense.

Much to my own disgust, punters are also betting on the return of One Nation leader Pauline Hanson to federal parliament, who always seems to crawl out of her hole whenever Australian racism hits critical mass. Unfortunately, it looks like she’s on track to win a Queensland senate seat, sitting at $1.35 odds.

Surprised at the gambling possibilities? Well it doesn’t stop there. You can even bet on the colour of Bill Shorten’s tie at his post-poll speech, the time Tony Abbott will cast his vote and whether Malcolm or Bill will cry during their concession speech should they lose.

But the bookies aren’t always right. In fact, English betting agencies were calling a Brexit ‘remain’ vote for months. This article from April showing support for the ‘leave’ party at just 30 percent. But to be fair, the odds levelled at a similar point before their vote was to take place.

Four more years of a Coalition Government is a depressing thought, but all the more reason to get out there on Saturday, have a democratic sausage sanga and cast your vote! Don’t let the bookies win.