Insights from Quadrant

Place your bets,
gentlemen and ladies

When Prime Minister Scott Morrison called the election this morning (April 11), the bookies weren’t far behind. Their expectations, if you are a Coalition supporter, are dire.

As of a few hours after the announcement, BetFair was offering $1.18 for a one dollar bet on a Labor victory, while the Coalition stood at a long-odds $5.

Sportsbet was marginally more hopeful, rating the likelihood of Scott Morrison having his lease on The Lodge renewed at $4.85, while Ladbrokes echoed BetFair’s $5 odds.

Depressing, what?

Well take heart. On the morning of November 8, 2016, another much derided candidate also was rated a $5 chance. That would be Donald Trump, of course. One astute punter pocketed $2.5 million on that surprise result, according to Fortune, so those inclined to have a flutter on the local citizenry’s flexing of its franchise might want to get on early.

There is a long way to go until May 18.

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