According to one online betting source, punters have turned their noses up at current Prime Minister Julia Gillard and are putting their money behind Kevin Rudd.
Miss Gillard is at odds of $2.92 to be Labor leader at the next election with Betfair saying their customers give her just a 30% chance of staying Prime Minister.
One Brisbane punter said: “I’ve dropped $500 on Kevin emerging the winner on Monday. I figure there are 103 smart and educated people with their jobs on the line next election. They would be stupid not to back Kevin no matter how psychotic he may seem. The public don’t see psychotic Kevin in Canberra. They see Kevin on TV. And that’s the guy they want to vote for, not Julia who has broken some important deals with the independents and the voters.”
Ex-Foreign Minister Kevin Rudd’s odds of winning the prime ministership have shortened to $1.47.
“Unlike betting with the bookmakers or the TAB, odds on the Betfair exchange are set by punters themselves, meaning the market acts like a real-time opinion poll of public voting intention,” Betfair said in a statement today.
A Betfair spokesperson added: “Betfair punters think it’s all over for Julia Gillard and are increasingly sure Kevin Rudd will be back in the Lodge in time for the next election.
“Julia Gillard had traded as low as $1.55 to hold on, but Betfair punters remember what happened last time leadership speculation reached this level, and all the money since Australia Day has been for Kevin Rudd.”