After months of auditions and performances, the winner of Australian Idol 2024 is about to be unveiled live on air.
While the live factor means that there’s no way of knowing who actually wins, betting odds have given a clear indication of who the public thinks will take out the competition this year.
Broome’s Amy Reeves has blown the judges and audience away week after week with her impressive performances, and she’s been tipped as the most likely to win.
Sportsbet’s current odds have Denvah Baker-Moller and Dylan Wright in third.
Check out the current Sportsbet odds:
- Amy Reeves $1.83
- Denvah Baker-Moller $3.00
- Dylan Wright $3.50
How do betting odds work?
Betting odds are tied to dollar amounts, and those with lower odds are recognised as more likely to win, hence the lower return. For example, if someone bet $1 on Amy and she won, they’d receive the amount she’s listed at, which is $1.83.
The return is multiple. based on how much someone bets, so if they bet $10.00 on her, they’d receive $18.30. If they bet $100, they’d receive $183, and so on.
Do betting odds correctly guess the winner?
Technically, no. It’s illegal for anyone to bet with insider information, so the betting odds are just an indication of who the public thinks is more likely to win. However, the odds are skewed to represent how much money a contestant has bet on them. That means that the contestant with the lowest odds has the most amount of money bet on them.
In the past, betting odds have been fairly on the money when representing who will win a reality TV show. For example, Feras Basal had the lowest odds of winning Australian Survivor 2024 with a return of just $1.23, and he took out the win.
Similarly so, betting odds suggested that Steph and Gian would win The Block 2023, which they well and truly did, with a profit of $1.65 million, plus $100,000 in prize money.
Watch the Australian Idol Grand Finale on Monday, March 25 at 7.30 pm on Channel 7 and 7plus.
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