Bob Katter has been installed as the $1.25 favourite and Clive Palmer the $3.50 outsider by online bookmaker sportsbet.com.au to win the seat of Kennedy at the next Federal election.

“Clive has thrown down the challenge to Bob Katter but the market is indicating he has a big battle on his hands to get the votes he needs,” Sportsbet.com.au’s Ben Hawes said.

“If Clive does run for Kennedy, strap in, get the popcorn ready and enjoy the entertainment.”

Sportsbet.com.au has also opened a market on which seat Palmer will stand for, with Kennedy the $1.73 favourite and Fairfax priced at $2.00.

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Who will win the seat of Kennedy?

$1.25 Bob Katter
$3.50 Clive Palmer

Where will Clive Palmer stand?

$1.73 Kennedy
$2.00 Fairfax