Federal election 2025 betting odds between Anthony Albanese and Peter Dutton

Labor’s chances of retaining power continue to grow by the day, according to the latest odds.

The chances of the Coalition forming government have further decreased with sporting agencies putting odds at $3.10 on Wednesday.

With the federal election campaign in full swing and Australia heading to the polls on May 3, betting agency TAB is backing a Labor win at $1.36. The party’s odds have improved after rating at $1.72 last week.

Meanwhile, the Coalition’s odds of forming government have further blown out with odds at $3.10 on Wednesday, drifting from $2.10 last week.

Sportsbet has odds on Labor staying in government at $1.34, and the Coalition taking control at $3.37. All other results are at $151.

“There’s been a groundswell of support for Labor in the last week as they firm into clear favourites to win next month’s election. Money was split 50/50 between the two major parties last week but that has changed with Labor leading that battle,” Sportsbet’s Sean Ormerod said.

Leader of the Opposition Peter Dutton has drifted out in the betting market. Picture: Lyndon Mechielsen

When the election was initially called the bookmakers predicted a tight result with Labor sitting as the favourite among punters.

One South Australian punter seemed confident in the current prime minister, placing a $19,000 bet at $1.95, which would see a $37,050 payday if Albanese continues his stay at The Lodge.

Prime Minister Anthony Albanese and the ALP are the favourites according to betters. Picture: Hilary Wardhaugh/Getty Images

TAB spokesperson Gerard Daffy said at the time that it was the tightest margin of the two candidates.

“Both Labor and the Coalition had been favourites for extended periods over the past three years, but they’ve been at their closest point in the past week,” Daffy said

In the last election, the now Prime Minister Albanese went into the election as favourite with the TAB, who were then offering $1.48 and $2.70 for Scott Morrison to remain as prime minister.

Former Prime Minister Scott Morrison celebrates after winning the 2019 Federal Election, at the Federal Liberal Reception at the Sofitel-Wentworth hotel in Sydney. (AAP Image/Mick Tsikas)

Although, the results don’t always match the betting markets, with the 2019 election a perfect example.

The ALP and Bill Shorten were considerable favourites at $1.22 over Scott Morrison and the Coalition at $4, only for Morrison to retain office, famously saying after his victory, “I’ve always believed in miracles”.

48th Parliament of Australia

Markets courtesy of Sportsbet as of April 9

$1.34 Labor

$3.37 Coalition

$151 Any other result

Visit the National Gambling Helpline for help or call on 1800 858 858.

Originally published as Federal election 2025 betting odds between Anthony Albanese and Peter Dutton