Punter puts two bets worth $20k on Labor to win election

COULD this be Australia's biggest true believer in Labor?

A punter has put a $13,000 bet on Labor at the odds of $17 to take Saturday's federal election.

It is is the biggest Labor wager since betting opened back in 2010, with the winnings also set to be the biggest seen on federal politics - totalling $221,000.

The punter wasn't finished there either, betting another $7,500 at $15 which would give them another $112,500 in winnings. In all, the punter stands to collect $333,500.

As a result, Labor have tightened into $14 to win the election, with the Coalition easing from $1.01 out to $1.02.

The biggest bet on the Coalition to date is $750,000 at $1.07.

Five days ago, sportsbet.com.au paid out over $1.5 million to its punters who have backed the Coalition to be elected on September 7.

"All of the big bets had been going on Tony Abbott's team until this wager. It's almost double the size of the next biggest bet we've taken for Labor," sportsbet.com.au's Ben Hawes said.

"Money is still heavily in favour of the Coalition but for every bet placed on them to win the election, three have been getting placed on Labor, which says there's still some support out there for Kevin Rudd."

Meanwhile, a sportsbet poll anticipates the Coalition winning at least 22 seats in Queensland at the Federal Election and are tipping more to fall the LNP's way between now and Saturday.

The punters are tipping that the LNP are favourites in 22 electorates, which includes snaring Moreton from the ALP, with the seats of Lilley and Petrie marginally too close to call.

"If this trend continues, the Coalition could end up with 25 seats in Queensland. Lilley and Petrie have almost swung to the LNP and Blair isn't far from it either," Mr Ben Hawes said.

Money and bets are currently coming in at 5 to 1 in favour of the coalition in Lilley, the seat has both parties priced at $1.85 each and labor are forecast as favourites in 6 seats.

As it stands the coalition remains at $1.01 to win the Federal Election with Labor behind at $17

What the punters are saying in the key Queensland seats:

•  Brisbane - Teresa Gambaro the Coalition candidate at biggest risk, priced at $1.33 to retain. Money 60/40 in her favour
•  Forde - Money 7 to 1 in favour of the Coalition. Peter Beattie out to his biggest odds to win the seat since it was announced he was running
•  Griffith - bets still 3 to 1 for Bill Glasson but he remains the $3.00 outsider to Kevin Rudd, who's steady at $1.33
•  Kennedy - Bob Katter into shortest odds possible of $1.001. Very heavily backed to retain his seat
•  Moreton - 65% of money bet on the electorate for LNP. Firmed from $2.50 one month ago into $1.35
•  Petrie - now too close to call. Money 2 to 1 for the Coalition to win the seat from Labor

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