The 2016 federal election is over for one bookmaker now Turnbull is PM

Turnbull Stakes day at Flemington. Photo: Vince Caligiuri/Getty Images.

Last night, the punters had their money on Malcolm Turnbull becoming PM, with the odds swinging dramatically in favour of the Coalition at this weekend’s Canning by-election as well as next year’s federal election.

Today, online bookie William Hill declared the race over for the 2016 election, paying out on a Coalition win.

“Yesterday morning we had Bill Shorten as favourite to be Prime Minister after the next election,” William Hill spokesman Tim Ashworth said.

“But now punters believe a Turnbull-led Coalition will guide the government to success when we next go to the polls.”

The bookmaker has the Liberals at $1.12 to win the Canning by-election this Saturday, with Labor now at $5.50.

Malcolm Turnbull’s reign as PM is most at risk next year, with the punters having him at $2.75 to stay as leader in 2016, an election year, before the odds lengthen to $8 and $9 in 2017-18 the shorten again to $5 in 2019, another election year.

The punters also expect Tony Abbott to fight on, with betting that he won’t quit at $1.36 against $3 for him failing to stand at next year’s election.

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