Aussie politicians bet against themselves

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Senior figures from the Australian Labor party have placed significant bets on the outcome of the federal election, with some punting against their own party.

A major betting agency said bets had been placed on members of the opposing team to win marginal seats in NSW and Queensland.

Centrebet primary analyst Neil Evans said: ''I can't tell you who but I can tell you this: these are people very high up betting on some of the critical seats and I can tell you they don't always stay faithful to their party - they swap sides.

''They are well-known Labor figures and associates that are punting on these seats. A lot of Labor-connected money has been backing a Coalition win in marginal seats and, to a lesser extent, the Coalition has been doing the reverse.''

The Sun-Herald understands the figures include parliamentary staffers, advisers and senior party officials.

Independent senator and anti-gambling campaigner Nick Xenophon said: ''In the same way in the AFL officials and players can't bet on the other team, the same rules should apply for election betting. We have those rules in place so matches aren't thrown and, when it comes to a democracy, the stakes are much higher and therefore the standards should be accordingly higher.''

Today the senator will call for all politicians, party officials and advisers to be banned from election betting.

The revelations follow a 24-hour betting frenzy in which the Coalition's odds tightened from $3.32 to $2.64 and the ALP eased from $1.32 to $1.46.

A Herald/Nielsen poll published yesterday showed the Coalition - buoyed by damaging leaks against the Government - has an election-winning lead with a two-party preferred vote of 52 to 48 per cent.

With the ALP at its longest price in the betting markets since Prime Minister Julia Gillard deposed Kevin Rudd, bets of $10,000 at $3.25, $7800 at $3.10, $5000 at $2.90 plus scores of other small bets were recorded for a Tony Abbott victory.

Election betting is on track to reach record levels across the country. More than $1 million in head-to-head bets have been placed with Centrebet alone.

An ALP campaign spokesman would not directly address the allegations of insider betting but said it was a personal choice if party members had engaged in such conduct.

''Those are personal choices for individuals to make,'' he said.

''This will be a close election. As the Prime Minister has said, we are in the fight of our lives.''

A Liberal spokeswoman said the party had no knowledge of such betting on electoral seats.

Senator Xenophon is demanding an independent inquiry into political punting and will expand the terms of reference of a Senate inquiry into sporting and online gambling to include tougher regulations on election betting: ''To say it is a personal choice is an insult to the electorate.''

Mr Evans said election betting was the biggest growth area of his industry: ''The bets that we get in a federal election are bigger than the bets we get in all of the state elections put together. They're not mugs betting. When there are people putting money like that on an election outcome, they are people who are inside the game.''

Sportingbet operations manager Bill Richmond confirmed the practice of high-ranking party officials and even politicians taking a punt.

''Not that I've heard of it this year, although it has happened before,'' he said. ''They may be with other betting agencies but they're not with us.''

Queensland-based Unitab has opened election betting for the first time and spokesman Brad Tamer said the decision was made due to demand from punters.

Betting agencies suspended bets on the date of the election early last month after mounting speculation it would be called.

- © Fairfax NZ News