Labor's odds of victory drift for September 7 Australian federal election

SYDNEY - Aug. 4, 2013 - PRLog -- Labor’s odds have eased from $3.65 out to $4.00 at Sportingbet Australia. This represents only a 23% probability of a Labor victory.

The Coalition’s odds have been crunched from $1.28 into $1.25 since Mr. Rudd called the election. Since July 31, the odds of a Coalition victory have firmed from $1.40.

“Punters have been confidently backing the Coalition now that we have an election date,” Sportingbet Australia spokesman Andrew Brown said.

“There has been a big spike in bets for the Coalition while at this stage the money for Labor has completely dried up,” Brown said.

The Coalition is a $4.50 favourite at Sportingbet to win between 81 and 85 seats.

2013 federal election

Winning Party

Sportingbet Australia market

Coalition $1.25

ALP $4.00

Correct election result

Sportingbet Australia market

Coalition 81 to 85 seats $4.50

Coalition 76 to 80 seats $4.80

Coalition 91 to 100 seats $4.80

Coalition 86 to 90 seats $5.50

Labor 76 to 80 seats $5.50

Coalition 101 or more seats $8.00

Hung Parliament $8.00

Labor 81 to 85 seats $11.00

Labor 86 to 90 seats $21.00

Labor 91 to 100 seats $23.00

Labor 101 or more seats $51.00

More election markets including individual seats http://www.sportingbet.com.au/#Sports/2062830