State or Federal level.
Election betting is growing in both Australia and overseas, with more and more punters attracted to it. Tab.com.au offers Election betting to its customers as there is a popular demand for it.
While Election betting isn't as intense as major horse races such as the Melbourne Cup, there is the intensity of the build-up. Everyone has their opinion as to which Party will win, and the media will speculate on just who will win.
In Australia, a federal election must take place once every three years, making betting on this election a relatively rare thing. State elections in Australia generally take place every four years. Federal elections occur in November, while State elections vary a little more; in NSW State elections are held in March, other states in November.
The last federal election was held in 2010 and betting on it was intense, with the Labor and Liberal parties virtually deadlocking at the end with Labor winning out by preferences.
Election betting at both a Federal and State level is a burgeoning phenomenon; TAB Sportsbet is acutely aware of its appeal to punters.
Election betting - the essentials
Before considering election betting it is important to understand the political structure in Australia. On a Federal level, the government has a House of Representatives and a Senate. Members of the House of Representatives are decided at general elections.
Australia uses the preferential voting system, where voters number their preferred candidates by order of choice.
With TAB Sportsbet it is possible to bet on the overall outcome of a Federal election or State election. Another option is to bet on the outcome of an individual seat or constituency.
Punters can also choose to bet on the number of seats a party or coalition wins.
There has been plenty of dollars at stake in recent elections as punters have embraced Election betting.
Things to look out for
As well as looking at election betting odds, a punter can get good information on which way an election is heading by studying news polls and opinion polls.