It’s over! Sportsbet pays out THREE DAYS early on Bill Shorten’s Labor to win the Federal Election
- Gambling giant Sportsbet has already payed out for an ALP Federal Election win
- Seven out of every 10 bets placed on Saturday’s election were for the ALP
- Sportsbet opted to pay out based on past results showing majority bets win out
- Despite paying out two days before the election the market remains open
Gambling giant Sportsbet has already paid out a staggering $1.3 million to punters who backed Labor to win the Federal Election despite it still being days away.
Sportsbet made the call after 70 per cent of all bets were placed on the ALP to win, at odds of $1.16.
One bet placed on the ALP to win managed to score a lucky punter a pay-out of $128,000 before a single vote has been counted for the May 18 election.
Sportsbet decided to pay out early based on the history of majority betting on elections, a politics trader from the company said.
Gambling giant Sportsbet has paid out a staggering $1.3 million to punters who backed Labor to win the Federal Election despite it still being days away
‘Our punters have spoken through their bets! 7 of every 10 bets on the election are on Labor,’ the trader said.
‘They’re supremely confident we will be paying out on Saturday so we have decided to pay them early. Punters rarely get it wrong on elections.’
Despite already paying out on a potential Labor win, the election betting market is still open and predicts Labor to take a majority 82 seats in Saturday’s election.
Labor’s odds climbed slightly to $1.18 as the Coalition trails with longs odds of $4.75.
Despite already paying out on a potential Labor win the election betting market is still open and predicts Labor to take a majority 82 seats in Saturday’s election
In a recent Newspoll, the ALP is predicted to take 77 seats to the Coalition’s 66 with a +1.36 per cent swing back to the ALP.
The last election in 2016 saw a +3.13 per cent swing towards Labor, despite the Coalition winning government with 76 seats.
The early pay outs were only for bets placed before 11pm on May 15.
Mr Shorten was campaigning in Blacktown while Prime Minister Scott Morrison was speaking to the National Press Club of Australia in Canberra today.
As punters were paid out ahead of the election Mr Shorten was campaigning in Blacktown while Prime Minister Scott Morrison was speaking to the National Press Club of Australia