- Aussies wager hundreds of millions of dollars on race
- In 2021 punters spent more than $200million on Cup
- Bookmaker is now holding more money on different event
The Melbourne Cup has long been the gold standard when it comes to events Australians like to gamble on – but one bookmaker has discovered there’s a new challenger for that crown.
BlueBet executive chairman Michael Sullivan has revealed the punting business will hold more money on result of the Voice to Parliament referendum than the race that stops a nation.
The outcome of the clash between the Yes and No campaigns is also attracting more money from punters than Sydney’s megabucks Everest spring carnival race, according to the Daily Telegraph.
Jockey Mark Zahra (centre) celebrates with owners David Eustace (left) and Ciaron Maher (right) after Gold Trip won last year’s Melbourne Cup
Aussies are famous for wagering staggering amounts on the race that stops a nation – but one bookmaker says the event has a new rival when it comes to punting (pictured, Gold Trip wins the 2022 Melbourne Cup)
BlueBet is currently offering odds of $5.65 for the Yes vote, with $1.11 for No, which tallies with current opinion polls that predict the latter will be the victor when the referendum is held on October 14.
Punting on the Melbourne Cup hit a high in 2020, when Aussies wagered $221.6million on the race – a sure sign the outlay on the Voice referendum is substantial.
BlueBet is the only major bookmaker offering odds on the result of the referendum, with Ladbrokes, Betr, Sportsbet, Neds and Betfair all passing up on the opportunity.
That development was welcomed by federal independent MP Andrew Wilkie, who said, ‘Such events are too important to be treated like a footy game.
The odds being offered on the outcome of the referendum have the No vote as a huge favourite – reflecting polling that shows the Yes vote slipping badly (pictured, Prime Minister Anthony Albanese with AFL great Michael Long and Minister for Indigenous Australians Linda Burney)
‘The privileged access enjoyed by political insiders to polling and other research gives them an unfair advantage at the expense of other punters.’
Support for the Indigenous Voice to Parliament slumped to new lows in recent polling, with every state except Tasmania poised to vote ‘No’.
The most recent Resolve Political Monitor survey, published on September 11, showed 43 per cent of voters supported a plan to enshrine an Indigenous Voice into the constitution, down 20 percentage points from a year ago.
In the past month, the percentage of voters who are certain about voting ‘No’ has risen from 33 per cent to 37 per cent, whereas the percentage of those who say they will probably vote ‘No’ remains unchanged at 12 per cent.
Shadow Minister for Indigenous Australians Jacinta Nampijinpa Price (pictured) has been one of the leading figures in the No campaign, which is proving highly effective
The poll had 16 per cent of voters undecided.
The percentage of Australians in favour of the referendum has dropped for the fifth month in a row. It’s also the third month in the row that the ‘No’ vote has been ahead.
Since the last survey Victoria has flipped to a majority ‘No’ state, leaving Tasmania the only jurisdiction left in the ‘Yes’ camp.
For the voice to succeed, the ‘Yes’ campaign will require more than 50 per cent of the vote across the nation and in four of the six states.