An Australian gambler bet A$750,000 (US$682,000) that Tony Abbott’s conservatives will unseat Prime Minister Kevin Rudd’s Labor Party at next month’s parliamentary election.

“This is easily the biggest bet ever placed on Australian politics,” Internet betting agency Sportsbet’s Ben Hawes said today.

Abbott is favourite to win the election according to pollsters, and a winning bet would return A$802,500.

An opinion poll commissioned by The Australian newspaper that was published today had Abbott’s coalition leading with 53 percent of the vote to 47 percent for Labor.

Every major poll since the last election in 2010 has had the coalition in front. The election is scheduled for Sept 7.

- dpa