With Joe Hockey expected to announce his retirement this week, online bookmaker sportsbet.com.au has installed the Liberal Party as the clear favourite to hold the seat of North Sydney, while Labor are unlikely to run.
Before Hockey is even out the door, the Liberals are priced at $1.03 to win a by-election ahead of an independent at $10 and the Greens at $26.
Labor are priced at $34, but Sportsbet think it’s unlikely they will contest, offering odds of $1.25 they don’t field a candidate.
A by-election is expected to be held before Christmas, with Sportsbet paying $1.25 if it’s this year and $3.50 if it’s next year. If it is held this year, Joe Hockey is a $5.00 chance to be spotted selling sausages at one of the many polling day barbecues and an incredibly generous $101 if he is spotted smoking a cigar.
While his love of a fine cigar is now folklore, Hockey may be forced to put the Cubans on ice if he is named Australia’s next US ambassador, which Sportsbet think will happen, pricing it at a short $1.03.
“The Liberal Party will win the seat of North Sydney while Labor is expected to keep its powder dry ahead of bigger events next year,” said sportsbet.com.au’s Ben Bulmer.
“With Joe Hockey hanging up his political boots, the Parliament of Australia is losing one of its most colour characters but our loss is America’s gain with Hockey a shoe-in to be named Australia’s next US ambassador.”
Markets courtesy of sportsbet.com.au
North Sydney by-election winner?
$34 Any Other
Labor runs in North Sydney by-election?
Joe Hockey becomes Ambassador to US?
North Sydney by-election in 2015?
Who will Joe Hockey vote for at the by-election
$26 Any other
Joe Hockey By-election specials
$5.00 Joe Hockey to man any sausage sizzle stall on voting day
$11 Joe Hockey to be seen voting with John Howard on polling day
$21 Joe Hockey to dress as Santa Claus on polling day
$101 Joe Hockey to be seen smoking a cigar on polling day