Voice to Parliament referendum odds heavily favour No vote
An Australian bookmaker has revealed wagering on the upcoming Voice to Parliament has exceeded expectations, and is proving to be a Melbourne Cup-like betting event.
While many Australian online bookmakers have stayed out of the divisive Voice to Parliament debate, and have not offered odds, BlueBet.com.au is offering markets on the October 14 vote.
The Voice to Parliament referendum will ask Australians whether they want to acknowledge indigenous Australians in the constitution, and whether we should establish a Voice to Parliament, which would be an elected group of representatives.
According to bookies, the “No” vote is leading, with BlueBet pricing this happening at $1.15, while the “Yes” vote is paying $4.75. These odds have moved in recent days, with “Yes” coming in from $5.65, while the “No” Price has drifted from $1.11.
These Voice to Parliament odds align perfectly with the most recent polling, which have shown a drift towards the No vote, as people become more aware of what they are voting for.
Remarkably, BlueBet boss Michael Sullivan says the company will hold more money on the Voice referendum than they will on the Melbourne Cup, the race that stops the nation.
A record was set in 2020 when Australians wagered an astounding $221.6 million on the Melbourne Cup.
While BlueBet has embraced the event, other major bookmakers such as Ladbrokes, Betr, Sportsbet, Neds, and Betfair have refrained from offering odds on the referendum outcome.
The Voice to Parliament referendum has been particularly divisive across Australia, with the Yes camp accusing No voters of misinformation and racism.
The No camp, lead by Shadow Minister for Indigenous Australians Jacinta Nampijinpa Price, has accused the Yes camp of attempting to divide Australia by race. They have also described it as elitist with this fuelled by significant backing from corporations, like Qantas, and celebrities entering the political fray.
