Election race still tight, Tony Abbott insists despite sportsbet payout

TONY Abbott played down expectations of a decisive victory on September 7 despite a bookmaker paying out on a Coalition win.

Tony Abbott

TONY Abbott played down expectations of a decisive victory on September 7 despite a bookmaker paying out on a Coalition win.

Mr Abbott declared the election race "very, very tight".

His comments came after online bookmaker sportsbet.com.au declared the election a one-horse race and paid out about $1.5 million on all bets on the Coalition.

But Mr Abbott said "as for the bookies, I'd say more fool them".

"Some of you might remember I once worked for an opposition that was careering towards an inevitable victory and it didn't happen," Mr Abbott said.

"1993 is proof that there is no such thing as an unloseable election and I think this election is very, very tight. It's very, very tight."

The Coalition is leading in the opinion polls but Labor tracking has been showing that campaigning against the "cuts" is having an impact with voters.

"The government has unleashed the mother of all scare campaigns," Mr Abbott said.

"The unions are spending $12 million over the last week or so on a series of negative advertisements.

"Every letterbox in western Sydney is being stuffed with material claiming that the Coalition is going to cut this and cut that. All lies of course.

"But as we know from a regrettable history, sometimes lies sway people and no one should assume that this election is won," Mr Abbott said.

Sportsbet.com.au has the Coalition priced at $1.03 with Labor at $11.50 to win the election.