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July 12, 2013

The ALP is yet to announce who will succeed Peter Garrett and contest his seat of Kingsford Smith but that hasn’t stopped punters at Sportingbet Australia from heavily backing Labor to retain the south-eastern Sydney seat.

The odds of the ALP retaining Kingsford Smith have been crunched from $1.75 into $1.30 at leading election bookmaker Sportingbet Australia, while the odds of a Liberal/National party win have eased from $1.90 out to $3.20.

We’ve taken a significant four-figure bet on the ALP to retain Kingsford Smith and we’re holding three times more money for Labor than the Liberal/National Party in that seat,” Sportingbet spokesman Andrew Brown said.

“The new ALP candidate clearly won’t be as rock n’ roll as the current one but punters believe that whoever it is will prove a big hit with voters,” Brown said.

Meanwhile, the Coalition’s odds of winning the election have firmed back into $1.37 after drifting from $1.25 to $1.44 earlier this week. The ALP’s odds of winning the election are back out to $3, after touching a two year low of $2.70 on Thursday.

Australian federal election

Sportingbet Australia market

NSW seat of Kingsford Smith

Labor $1.30

Lib/National Party $3.20

Greens $26

Independent $81

Any Other $101

Australian federal election

Sportingbet Australia market

Coalition $1.37

ALP $3.00