Over the past month or so, punters have been betting their hard earned cash on Labor to win the Federal election.
At the start of the year, Labor were the rank outsiders at $6.50 with the Coalition almost unbackable at $1.11. But with the policy drift from the government, the policy zeal from Labor and a run of unfriendly events within the Coalition, the odds, like the polls are narrowing.
The latest odds show Labor into $5.00, with the Coalition out to $1.17. Allowing for the bookies margin, Labor are a 19 per cent chance to win, with the Coalition 81 per cent.
The Coalition is clearly still the hot favourite with the punters, but the flow of money has seen them drift a little as polling day draws nearer. And who knows, a 100 to 1 long shot won last year’s Melbourne Cup.
The Kouk – Your Bets Friend