Election Betting - Will Kevin Rudd be the new Prime Minister of Australia?

Tomorrow is a huge day for Australians, with the Federal Election taking place.

Will John Howard return, or will Kevin Rudd and the Labor party knock the Coalition out of Government?

Betting is heating up as the day draws close, with massive equity available on Betfair and Sportsbooks around the world providing punters with a large range of betting options.

The current market at Sportsbet Australia has the Labor Party favorites at 1.22 and the Coalition at 4.35. The amount being offered for a Coalition win is staggering value.

There has never been a 16 seat swing before in an Australia election, which is required by the Labor Party. WA will also be a stronghold for the Coaltion due to the resource boom and subsequent employment conditions such as job security and higher wages. Although the Labor Party has led the polls clearly, the gap has narrowed in the last week. They do deserve to be favorites, but the result will be a lot tighter than the market would indicate. The latest news poll and Australian polls have both been 52% Labor and 48% Coalition. This won't be enough to swing the election.

If you decide that betting on the overall outcome isn't something you want to do, you can bet on individual seats. Sportsbet have a market up for twelve of the more marginal seats. One of big interest is the 1.66 being offered for John Howard to win his Seat of Bennelong. It would be a massive result if Howard lost his own individual seat.

It should be interesting to see the outcome. Good luck if you have a bet; there are plenty of different options for you to bet on at Sportsbet Australia.

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