Aussie bookies all tied up by novelty election bet

Novelty betting is increasingly popular these days with markets on everything from The Great British Bake Off to whether the Duke and Duchess of Cambridge will have triplets (they are 150-1 to do so, if you are interested).

Most of the time these markets exist in the world outside the events they are attempting to predict. It is unlikely, for example, that Prince William was down the bookies placing bets on the name of his second child before it was released.

It is not always the case though, and Australian bookmaker Sportsbet came unstuck on its novelty market for which colour tie veteran political journalist Laurie Oakes would wear on the night of the country’s general election.