Julia Gillard has her nose in front of Tony Abbott

Punters with Australia’s number one betting agency Sportsbet have backed Labor into slight favouritism to form a minority government after Tony Abbott declined the independents’ request for official costings of Coalition policies.

Labor is now rated a $1.85 chance to form government (in from $2.45 on Wednesday night), while the Coalition has drifted from $1.52 out to $1.90.

“The betting has fluctuated wildly since Sunday morning,” said sportsbet.com.au’s Haydn Lane.

“Punters have been reacting quickly to news from the election race and as soon as Tony Abbott declined to open the books the punters have turned their back on him.”

More than 80 percent of bets placed with sportsbet.com.au on the minority government since 6pm AEST on Wednesday have been on Labor.

Party to form minority government

$1.85   Labor
(opened on Sunday at $2.20, eased out to $2.65, shortened into $1.55, back out to $2.45, now into $1.85)

$1.90   Coalition
(opened on Sunday at $1.60, backed into $1.47, eased out to $2.36, shortened into $1.52, now out to $1.90)

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