- Aussies bet hundreds of millions of dollars on racing
- In 2021, gamblers spent more than $200 million on Cup
- Bookmaker now holds more money on different events
The Melbourne Cup has long been the gold standard when it comes to events Australians like to bet on, but one bookmaker has discovered there is a new challenger for that crown.
Michael Sullivan, executive chairman of BlueBet, has revealed that the betting industry will hold more money on the outcome of the Voice to Parliament referendum than on the race that holds a country back.
The outcome of the clash between the Yes and No campaigns is also attracting more money from punters than the Megabucks Everest spring carnival race in Sydney, according to the Daily telegram.
Jockey Mark Zahra (centre) celebrates with owners David Eustace (left) and Ciaron Maher (right) after Gold Trip won the Melbourne Cup last year
Aussies are known for betting staggering sums on the race that stops a nation – but a bookmaker says the event has a new rival when it comes to punting (Picture: Gold Trip wins the 2022 Melbourne Cup)
BlueBet is currently offering odds of $5.65 for the Yes vote, with $1.11 for No, which is in line with current polls predicting the latter will be the winner when the referendum is held on October 14.
The Melbourne Cup points tally peaked in 2020, when Australians bet $221.6 million on the race – a sure sign that Voice referendum spending is substantial.
BlueBet is the only major bookmaker to offer odds on the outcome of the referendum, with Ladbrokes, Betr, Sportsbet, Neds and Betfair all missing this opportunity.
That development was welcomed by Federal Independent MP Andrew Wilkie, who said: “Such events are too important to be treated like a football game.
The odds on the referendum outcome have the No vote as a heavy favorite – a reflection of opinion polls showing the Yes vote falling badly (pictured, Prime Minister Anthony Albanese with AFL great Michael Long and Minister for Indigenous Australians Linda Burney )
“The privileged access that political insiders enjoy to polls and other research gives them an unfair advantage at the expense of other gamblers.”
Support for the Indigenous Voice to Parliament fell to a new low in recent polls, with every state except Tasmania on the verge of voting ‘no’.
The Resolve Political Monitor’s most recent survey, released on September 11, found that 43 percent of voters supported a plan to enshrine an Indigenous voice in the Constitution, a decline of 20 percentage points from a year ago.
Over the past month, the percentage of voters who are certain they will vote ‘no’ has increased from 33 percent to 37 percent, while the percentage of voters who say they are likely to vote ‘no’ remains unchanged at 12 percent.
Shadow Minister for Indigenous Australians Jacinta Nampijinpa Price (pictured) is one of the leading figures in the No campaign, which is proving highly effective
At the poll, 16 percent of voters were undecided.
The percentage of Australians in favor of the referendum has fallen for the fifth month in a row. It is also the third month in a row that the ‘no’ vote has come first.
Since the last survey, Victoria has moved to a majority of ‘No’ states, leaving Tasmania as the only jurisdiction left in the ‘Yes’ camp.
To pass, the “Yes” campaign will need more than 50 percent of the vote nationwide and in four of the six states.