Punters defy election ban call

Anti-gambling MP Nick Xenophon has called for a ban on election betting. Source: AAP

THOUSANDS of Australian punters are racing to place bets on the Federal election following yesterday's surprise announcement.

Almost 3000 punters have made an online wager with Sportsbet following Prime Minister Julia Gillard's election announcement.

So far more than $350,000 has been wagered on the election with one high roller has already splashed out $50,000 in favour of the Coalition.

The figures come only days after Senator Nick Xenophon, together with fellow anti-gambling MP Andrew Wilkie, pushed for a ban on election betting in Australia and said he would introduce legislation when parliament resumed.

Mr Xenophon said election betting prompted acceptance of gambling.

"We're calling for a ban on election betting,'' he told AAP on Thursday.

"At the very least, the major parties should immediately say their party officials, candidates and those with insider knowledge, including pollsters, are not allowed to bet."

If that can't be achieved, Senator Xenophon said there should be a register of bets because the risk of insider trading was enormous.

Mr Wilkie said gambling on elections was improper and should be outlawed.

"I have been dismayed by the high visibility of betting odds in the election coverage so far this year," he said in a statement.

The Tasmanian independent said promotion of election betting in the news media "only serves to normalise gambling and generate free publicity for online bookmakers."

"The more visible gambling is and the more it becomes ingrained into popular and political culture, the more harm will be caused by problem gambling," Mr Wilkie said.

The MP said he was unimpressed by Sportsbet's full page advertisement which used images of Australia's political leaders.

"I think using images of our political leaders to promote a potentially harmful product shows remarkably poor judgment," Mr Wilkie said.

The parliamentarians want the Australian Electoral Commission (AEC) to monitor all large bets to ensure the integrity of the electoral system is maintained.

"Footballers are banned from betting on games they play ... and party insiders should face the same restrictions," Senator Xenophon said.

"The more visible gambling is and the more it becomes ingrained into popular and political culture, the more harm will be caused by problem gambling.

Sportsbet spokesman Hayden Lane said the Coalition were already a clear favourite paying at $1.30, while Labor's odds had surged to $3.30 since the announcement.

"Currently, the Coalition is favourite in 91 seats and the ALP in 54,'' Mr Lane said.

"Independent Andrew Wilkie and Katter's Australia Party founder Bob Katter are also favourites in their respective seats, while the Greens have no favourites and three electorates Capricornia (QLD), Hindmarsh (WA) and Werriwa (NSW) are too close to call.''

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