01/07/2016 5:31 PM AEST | Updated 15/07/2016 12:56 PM AEST

Betting Agencies Predict Coalition To Win The Election

$1.08 to $8.

Jason Reed / Reuters
Sportsbet's odds are forecasting the Coalition will win 79 seats to Labor's 66. 

With less than 24 hours from the polls closing, betting agencies are predicting the Coalition will take the cake.

Sportsbet's odds are forecasting the Coalition will win 79 seats to Labor's 66. The odds on UBET also stand with the Coalition at $1.10 and Labor at $7.00.

Are the punters right with this one? Do the Libs have the election under their belt?

According to sportsbet spokesman, Will Byrne, they do indeed.

Byrne said the Coalition is the $1.08 favourite to win the election with Labor priced at $8.00.

"The Coalition is expecting to lose a fair few seats, but will maintain enough to win," Byrne said.

"We have seen some support for a hung parliament and that price has been cut from $5.00 to $4.00."

The Daily Mail reported one punter put on a $250,000 bet on the Coalition to win. Apparently it is the biggest bet on politics the bookmaker had ever taken. And if the punter wins, they will take home $30,000.

Byrne said the total voter turnout won't change from the last election with 93-93.5 per cent.

"Although its been a dull campaign in comparison to 2013 it won't have any affect on the actual voter turnout tomorrow," Byrne said.

Labor's lowest odds for the campaign were $2.95 back in May this year.

Rewind to the election in 2013, with a couple of days out the Coalition was paying $1.02 and Labor $12.00.

Apart from voter turnout and sworn in government, there are 36 other futures to bet on relating to the election, including politics/AFL doubles and "Will James Mathison get 4% PV?"