THE race for the seat of Riverina is a “one horse race”, according to bookmakers, who have installed sitting MP Michael McCormack as the equal shortest priced favourite in Australian electoral history.
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The Nationals incumbent is listed on leading bookmaker Sportsbet at odds of $1.001 for every dollar, meaning you would win just $1 if you placed a $1000 bet on him. Labor’s Tim Kurylowicz is listed as a $21 second favourite, Greens’ Kevin Poynter is $51, Philip Langfield from the Christian Democrat Party is $101, while Independent Richard Foley and Family First’s Glen O’Rourke are the rank outsiders at $151.
Historically, bookmakers are more accurate than opinion polls at predicting election outcomes.
Will Byrne from Sportsbet said the punters had piled the cash on Mr McCormack.
“This seat is absolutely a lock for the Coalition and this is the shortest possible price we’ve ever bet,” Mr Byrne said. “All the money is for Michael McCormack and there’s no support for any of the others.”
Mr McCormack holds a nominal two-party preferred lead of 69 per cent to 31 per cent in the Riverina.
Mr Poynter remained unfazed by the bookies markets.
“The bookies didn’t get it right with Brexit so I look forward to them being spectacularly wrong on this occasion as well,” he said.
In the national arena, Sportsbet has the Coalition at the prohibitive odds of $1.08, while Labor is $8.
“The money just keeps coming for the Coalition and they could be as short as $1.02 by election day,” Mr Byrne said. “84 per cent of the money we’ve taken is on the Coalition.”
