Horse-Race Overview And Betting Roundup: Are Labor Too Long?

(Note: This post was actually released 23 June, not 18 June as for some strange reason stated!)

It's just about time to rule a line under the rolling poll roundup that I ran through the last several days and write something new about the overall horse-race picture.  A new rolling roundup will be started when there is a new national poll (most likely ReachTEL on Friday night).

The national polling data that we have on this election at the moment all dates from Sunday or earlier.  Only Newspoll is even dominated by data from last weekend.  The two-party picture is persistently close, and the Coalition's advantage in seat projections is not massive, but betting markets offer headline odds that imply it's almost a done deal.  Many people have suggested to me over the last few weeks that Labor are way too long, and that odds of $3 or $4 might be understandable, but surely not $6 and upwards as has been seen at times.

My own polling aggregate (which, I should restate, describes the state of play at a given time - it is not by itself a prediction) has found the Coalition to be in a winning position at all times since Malcolm Turnbull became Prime Minister.  The Coalition has sometimes slipped below 50% two-party-preferred, but has never yet fallen below 76 seats on my projection of what would happen in an election "held now" at the time.  However, it hasn't had a big lead for a long time.