Australian Punters Keep Funds Flying on Election Outcome

Published Friday, September 03, 2010 -

Australia is caught up in an election outcome that is making a few gambling Australians a dollars on the side.
The latest in election results has punters going to their bookies online and otherwise and putting hard cash on the line on their favourite political horse.
No one questions this, it comes down to a matter of choice, play pokies, play the horses, play toad races, whatever, lets just have some fun and punt on the politicians. So far more than 10 million dollars, $9.1 million usd estimated by the larger betting agencies, has been put on the line over the course of the federal election and it's untimely conclusion.
Both the ruling Labor Party and opposition Liberal-National coalition are trying to attract three rural-based independent members of the lower house of parliament for the right to form a minority government.
Gamblers have not been consistent in their betting patterns waffling from one side to the other. Every time one side of the political divide seems to have a firmer grasp on the bets suggesting they are ahead the betting line has swung in the opposite direction. Much to the dismay of gambling operators who are on the edge of their seats watching every move closely. 
The favour swung toward the Labor and Prime Minister Julia Gillard, improved position after she gained the support of both Tasmanian independent lawmaker Andrew Wilkie and the small Greens Party. Labor was also critical of the opposition's election promises, stating that there were major problems with the budgets as assessed by the government Treasury. Centrebet's swung back to Labor for the first time since before the election.
Further momentum was given to Labor when independent lawmaker Bob Katter said he isn't opposed to backing a Labor government.
Even after all this positive news for the Labor party bets actually increased on a Liberal-National coalition government. First bets on the 2010 election started in 2007, and now with the uncertainty of this outcome the funds are flying.


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