BlueBet executive chairman Michael Sullivan has informed of a surprising event that is more popular with bettors than the race that stops a nation. Sullivan revealed that the Voice to Parliament referendum market received more traffic than the Melbourne Cup at BlueBet.
Considering that punters wagered more than $221 million on the Melbourne Cup in 2020, the most successful year for the cup wager-wise, one can only imagine how much money is wagered on the referendum.
Interestingly, the Yes/No vote taking place on October 14 is also getting more attention from punters than the Everest spring carnival race in Sydney, with bettors placing more bets and spending more money on the proposed law to alter the Constitution than the megabucks event.
Survey Shows All States except Tasmania will Vote “No”
BlueBet has priced the “Yes” vote at odds of $5.65, while the bookmaker is offering $1.11 for the “No” outcome, showing in no uncertain terms that it will be a huge surprise if the “Yes” vote wins.
Surprisingly, BlueBet is the only major Australian bookie accepting bets on the outcome of the referendum. Betr, Sportsbet, Ladbrokes, Betfair, and Neds have all decided not to include the event.
With recent polls showing that every Australian state with the exception of Tasmania will vote “No,” it isn’t hard to see why BlueBet has made this outcome the most likely and is offering low odds for it.
According to the Resolve Political Monitor survey, 43% of the people with the right to vote would support the altering of the Constitution to recognize the First Peoples of Australia by establishing an Aboriginal and Torres Strait Islander voice.
At the same time, the percentage of those saying they will definitely vote “No” has increased from 33% to 37%, while the percentage of people who would probably vote “No” stayed the same at 12%. 16% of voters still didn’t know which option they would choose.
For the “Yes” outcome to be the winning one, more than 50% of voters will need to go with it. However, with support for the voice dropping for five consecutive months, chances are that will be a long-shot bet.