MASSIVE PUNT: Move over Winx, Shorten’s a sure thing
A CASHED-up political junkie has bet $1 million that Bill Shorten will win the upcoming election.
The biggest single wager in history was made with online bookmaker Ladbrokes Australia - and The Courier-Mail can confirm it was made by a male from NSW.
Speculation will swirl within political circles on who has the cash to stump up that much money on an Australia election.
At odds of $1.23, a win could outlay a whopping $230,000.
"We've obviously seen some sizeable bets come through in recent times, many of them on WINX, but clearly this gentleman thinks the Labor Party is a safer bet than the now retired mighty mare," Ladbrokes Australia chief executive Jason Scott said.
The punter would profit $230,000 should Bill Shorten lead the next sworn-in government, a bet which looks a lot smarter than the $800 another Ladbrokes client placed on the United Australia Party on Monday at odds of 300-1, he said
Currently Mr Shorten enjoys a $1.23 odds of becoming the next PM, meaning the man, a male from NSW who has only bet with Ladbrokes twice prior, will make a handsome $230,000 profit.
The million-dollar gamble is precisely four times the size of Ladbrokes Australia's previous record of $250,000, which was entered in favour of the Coalition during the 2016 Federal election.
A Ladbrokes spokesman said the company lowered the odds of Mr Shorten winning from $1.23 to $1.20 after the bet was placed.
"It's the biggest bet we've ever taken as a company, so it's a pretty exciting day to be honest."
He said the company had seen a flurry of flutters since the election began.
"It's becoming increasingly popular betting on the election. This bet is still on another plane."
The previous biggest political bet struck with Ladbrokes Australia (which entered the local market in 2013) was $250,000 on the Coalition to win the last Federal Election.
The biggest bets on the 2019 election, prior to today's million dollar wager, were $15,000 on the Coalition at $4 on April 23 and $10,000 at $1.53 on Labor back in August last year, he said.