Anthony Albanese is now considered an even-money chance of being re-elected with even bookmakers unable to split Labor and Opposition's hopes of winning
Sportsbet on Monday had Labor at $1.90 odds, identical to the Coalition, after Australia's trade war with Donald Trump and the US gave Albanese an unexpected boost.
Earlier this month, Labor's odds were out at $2.50, with the Opposition the odds-on favourite at $1.57.
Labor began attracting more money in its favour after a Roy Morgan poll had Labor leading the Coalition 54.5 per cent to 45.5 per cent.
The result contradicted polls from earlier this year by Newspoll and Resolve which showed the Coalition in front.
This was after Trump's 25 per cent tariffs on steel and aluminium ironically won over voter support for Labor.
Roy Morgan chief executive Michele Levine said this had cost Opposition Leader Peter Dutton, despite Labor being unable to secure any US tariff exemptions.
'The Albanese government has consistently attempted to associate Dutton with President Trump and Trump's more controversial policies and rhetoric,' Ms Levine said.
Anthony Albanese is now considered an even-money chance of being re-elected with betting markets putting Labor on equal pegging with the Opposition thanks to Donald Trump
'This campaign may be starting to have an impact, as Trump's actions, including imposing tariffs, begin to directly impact Australians.'
A similar phenomenon is playing out in Canada where the governing centre-left Liberal Party leads the Opposition, after new Prime Minister Mark Carney replaced Justin Trudeau.
Until recently, polls had predicted the Conservative Party of Canada would win a landslide victory at this year's election after a decade in Opposition, but Trump's tariffs on Canadian imports have changed voting intentions.
In Australia, Sportsbet has Labor as the most likely to form a minority government, with its odds at $2.37 compared with $3 for the Coalition.
A Labor majority is long odds at $6, compared with $4.50 for the Coalition, given the government goes into the election with a two-seat majority.
The Liberal and National parties need to pick up 13 seats, with a four per cent swing, to be in the best position to form a minority government with conservative crossbench MPs, like Bob Katter.
Mr Dutton's Coalition would need to beat Labor Deneme Bonusu Veren Siteler 52 per cent to 48 per cent, after preferences, to pick up the necessary number of seats from the government, given his side lost safe seats to teal candidates in 2022.
Newspoll has put the Coalition in front, 51 to 49 per cent on a two-party preferred basis, in polls taken since January.
An election must be held by May 17, with Parliament set to be dissolved soon after Tuesday night's Budget.
No federal government has been thrown out of office after just one term since 1931.
Labor's support rose after the Trump Administration imposed 25 per cent tariffs on steel and aluminium (pictured is President Donald Trump in Philadelphia)
Sportsbet on Monday afternoon had Labor at $1.90 odds, identical to the Coalition
Donald TrumpAnthony Albanese
Sportsbet on Monday had Labor at $1.90 odds, identical to the Coalition, after Australia's trade war with Donald Trump and the US gave Albanese an unexpected boost.
Earlier this month, Labor's odds were out at $2.50, with the Opposition the odds-on favourite at $1.57.
Labor began attracting more money in its favour after a Roy Morgan poll had Labor leading the Coalition 54.5 per cent to 45.5 per cent.
The result contradicted polls from earlier this year by Newspoll and Resolve which showed the Coalition in front.
This was after Trump's 25 per cent tariffs on steel and aluminium ironically won over voter support for Labor.
Roy Morgan chief executive Michele Levine said this had cost Opposition Leader Peter Dutton, despite Labor being unable to secure any US tariff exemptions.
'The Albanese government has consistently attempted to associate Dutton with President Trump and Trump's more controversial policies and rhetoric,' Ms Levine said.
Anthony Albanese is now considered an even-money chance of being re-elected with betting markets putting Labor on equal pegging with the Opposition thanks to Donald Trump
'This campaign may be starting to have an impact, as Trump's actions, including imposing tariffs, begin to directly impact Australians.'
A similar phenomenon is playing out in Canada where the governing centre-left Liberal Party leads the Opposition, after new Prime Minister Mark Carney replaced Justin Trudeau.
Until recently, polls had predicted the Conservative Party of Canada would win a landslide victory at this year's election after a decade in Opposition, but Trump's tariffs on Canadian imports have changed voting intentions.
In Australia, Sportsbet has Labor as the most likely to form a minority government, with its odds at $2.37 compared with $3 for the Coalition.
A Labor majority is long odds at $6, compared with $4.50 for the Coalition, given the government goes into the election with a two-seat majority.
The Liberal and National parties need to pick up 13 seats, with a four per cent swing, to be in the best position to form a minority government with conservative crossbench MPs, like Bob Katter.
Mr Dutton's Coalition would need to beat Labor Deneme Bonusu Veren Siteler 52 per cent to 48 per cent, after preferences, to pick up the necessary number of seats from the government, given his side lost safe seats to teal candidates in 2022.
Newspoll has put the Coalition in front, 51 to 49 per cent on a two-party preferred basis, in polls taken since January.
An election must be held by May 17, with Parliament set to be dissolved soon after Tuesday night's Budget.
No federal government has been thrown out of office after just one term since 1931.
Labor's support rose after the Trump Administration imposed 25 per cent tariffs on steel and aluminium (pictured is President Donald Trump in Philadelphia)
Sportsbet on Monday afternoon had Labor at $1.90 odds, identical to the Coalition
Donald TrumpAnthony Albanese