Australian elections are over. Who did you bet on?

Australia’s national election ended yesterday with Labor Party leader Julia Gillard emerging as the country’s new Prime Minister. While millions of Australians used votes to back their pick for the new PM, many others chose to use money instead, placing bets on their favorite candidate at some of the top online sportsbooks in Australia.

Betting on political candidates in Australia has been something of a controversy lately. Back in July, MP Michael Johnson tried very hard to ban online betting on elections, arguing that important political decisions are inappropriate things to be wagering on. Johnson was also concerned that betting on political elections could influence the outcome if unscrupulous political parties used betting as leverage to twist elections in their favor.

Despite Johnson’s efforts, no ban has been placed on election betting. Internet sports betting websites across Australia as well as in other parts of the world offered lines on all candidates.

Interestingly, one of Julia Gillard’s primary campaign efforts focused on the issue of gambling. She has expressed a strong desire to reform Australian gambling laws, implementing stricter regulations on pokies as well as offering tighter regulation of online gambling in the country. Most gambling licenses are not up for renewal until 2012, however, so few changes are likely to be made until then.