Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Thursday, 9 June 2016

Run of money for Coalition

I think it would be fair to say that neither side of politics has really captured the imagination during this election campaign (an understatement perhaps - it's been a mostly dull campaign to date). 

Almost by default, therefore, having not stuffed up the Budget too spectacularly the incumbent Coalition under Prime Minister Turnbull have eased ahead in bookmaker's expectations. 

Since one month ago, bookies have unilaterally lengthened their odds on a Labor Party (ALP) victory right across the board.

Most bookies now see the Coalition as short odds favourites. 

More than 65 per cent of bets have been placed on an ALP win, as punters chase the longer odds.

However, the odds on a Coalition victory were being offered as short as $1.22 yesterday, with ALP blowing out to as wide as $4.25.

It therefore looks as though Turnbull will be given a term to show us what he can do.