THERE will be a loser and a winner in tonight's Liberal leadership spill and betting on who will walk away with the title of Prime Minister has already begun.
Online bookmaker sportsbet.com.au has opened a market on the impending ballot.
Malcolm Turnbull is expected to win the ballot, priced $1.10, with Prime Minister Tony Abbott at $6.00.
The announcement of a leadership challenge has caused a bounce for the Liberals in Canning, with Liberal candidate Andrew Hastie shortening from $1.27 into $1.20 following today's announcement while Labor's Matt Keogh has drifted back out to $4.00.
Malcolm Turnbull's decision to challenge Abbott for the Liberal leadership has seen the Coalition shorten from $1.73 into $1.50 to win the next Federal Election, while Labor has gone from $2.15 out to $2.65.
Liberal leadership ballot
$1.10 Malcolm Turnbull
$6.00 Tony Abbott
$1.20 Liberal (Andrew Hastie)
$4.00 Labor (Matt Keogh)
Next sworn-in government