The West Australian claims today that some MPs are punting their pension on the poll. An anonymous source is quoted as saying “We’ve had bets from both sides and it appears it is well-connected people … people in the know on both sides, who’ve seen polling.”

Prime Minister says “I don’t believe for a moment they would do that”.

We at Crikey just chuckle. A persistent story from 1996 claims that Mark Textor put a bundle on the Libs when Alexander Downer was still leader and everything looked lost.

We’re also hearing from our sources in the betting ring that it’s not only pollies punting. Crikey understands that some of the big guns of the trade union movement are making financial investments in the election outcome.

They’re allowed to. They’re over 18. But the story isn’t as simple as that. Crikey has heard of big money bets. Bets using some of those strange union discretionary funds that pop up in the public eye every now and then.

Gambling the union “education fund” isn’t the same as gambling the money put aside for the kids education – but it’s certainly not the purpose the money is supposed to be used for.

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Peter Fray
Peter Fray
Editor-in-chief of Crikey
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