Kevin Rudd is once again favourite to be the Labor party leader by the next federal election, into $2.50 from $3.50 with online bookmaker sportsbet.com.au.
It is the first time Rudd has been favourite since just before his showdown with Julia Gillard in February.
As a result, Gillard is now out from $1.90 to $2.80 after drifting significantly from $1.33 in the space of two weeks.
“There has been a steady flow of money for Rudd on the back of a number of stuff ups by the Labor party. He is sitting back and letting Gillard make the mistakes, and the punters think he is a big chance,” said sportsbet.com.au’s Shaun Anderson.
Stephen Smith has held firm at $5.50, while Simon Crean has shortened from $8.00 to $6.00.
On the other hand, Tony Abbott continues to firm as the likely leader for the Coalition, into $1.20 from $1.25. Malcolm Turnbull has also firmed from $4.00 to $3.75, while Joe Hockey has drifted from $8.00 to $10.
22 year old Wyatt Roy continues to be the outsider, drifting from $201 to $5001.
It all spells good news for the Liberals, now into $1.13, their shortest odds since the market opened, to win the next federal election.
Labor have drifted from $4.65 to $6.00.
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Who will be the Labor leader by the next election?
Prices in brackets from 6th May
$2.50 Kevin Rudd (in from $3.50)
$2.80 Julia Gillard (out from $1.90)
$5.50 Stephen Smith (steady)
$6.00 Simon Creen (in from $8.00)
$6.50 Bill Shorten (in from $5.50)
$16 Greg Combet (out from $11)
$61 Wayne Swan (in from $81)
$101 Anthony Albanese (steady)
$126 Chris Bowen (out from $101)
$151 Nicola Roxon (in from $101)
$251 Kate Ellis (out from $101)
$251 Peter Garrett (steady)
Who will be the Coalition leader by the next election?
$1.20 Tony Abbott (in from $1.25)
$3.75 Malcolm Turnbull (in from $4.00)
$10 Joe Hockey (out from $8.00)
$41 Scott Morrison (steady)
$51 Chris Pyne (out from $41)
$61 Andrew Robb (out from $41)
$1001 Stuart Robert (out from $51)
$101 Julie Bishop (out from $67)
$501 David Johnston (out from $101)
$5001 Wyatt Roy (out from $201)
Which party will be sworn into government after the next election?
$1.13 Coalition (in from $1.19)
$6.00 Labor (out from $4.65)