An international betting agency has confirmed today that an anonymous New South Wales man has placed a $1 million bet on Labor to win the upcoming federal election.
The bet, which is the largest in Ladbrokes' history, will pay out winnings of $230,000 if Bill Shorten comes into power on May 18.
Labor’s odds are currently sitting at $1.23 on the betting agency’s website with the Coalition’s odds trailing behind at $4.50.
The wager outstrips the site’s previous record bet which was $370,000 on now-retired racehorse Winx.
“We’ve obviously seen some sizable bets come through in recent times, many of them on Winx, but clearly this gentleman thinks the Labor Party is a safer bet than the now retired mighty mare,” said Jason Scott, Ladbrokes Australia Chief Executive.
Previously, the largest bet placed on an Australian election was $250,000 on the Coalition to win the 2016 Federal Election.
Other sizeable bets placed on the 2019 election include $15,000 on the Coalition and $10,000 on Labor.
The platform has the Greens, One Nation, Australian Conservatives and United Australia party all at odds of $301.
Tony Abbott making bets of his own
The former Prime Minister Tony Abbott, who is fighting for his seat Warringah, reportedly made a bet that climate change would not happen in ten years.
Author Cassie Flanagan Willanski wrote in The Guardian that she saw Abbott at a cafe and voiced her concerns about a lack of climate action. She claims Mr Abbott responded by asking her to bet $100 that the climate would not change in a decade.
A photo of a hand written note making the bet “official” has been published:
All eyes on polling
Labor is leading the Coalition 51 to 49 per cent in two-party terms, according to the latest Newspoll figures.
But Liberal leader Scott Morrison remains the preferred Prime Minister over Labor leader Bill Shorten, 46 per cent to 35 per cent.
The two leaders are gearing up for their final leaders debate tonight and the pressure is on with only a week to secure votes of undecided Australians.
The leaders will be careful not to put a foot wrong and replicate the mistakes of former NSW Labor opposition leader Michael Daley, who stumbled on the final debate of a state election he ultimately lost.
