Click here to Join Sportingbet Now.

Labor have been backed into favourites with Sportingbet Australia to win the race to the Lodge following a sustained betting move behind Julia Gillard and her team today.

Sportingbet CEO Michael Sullivan said the Government had now shortened into $1.85 favourites, with the Coalition drifting significantly to $1.95 in a very tight market.

“Now that uncertainty has clouded the role of the independent MPs and Hasluck is up for grabs, the market has flipped to make Labor favourite,” he said.

“We took one bet of $10,000 on the Coalition this morning at $1.60 but since then it has been one-way traffic with over 95% of bets and money coming for Labor.

“Yesterday all the money was for the Coalition who at that stage had claimed 73 seats, but with the news they may lose Hasluck, we can’t find a punter to back them now.”

The market pays out on the party that provides Prime Minister and is live at www.sportingbet.com.au.