We might be two days out from election day but one of Australia's biggest online bookmakers says this one is already over – and they’ve put their money where their mouth is.

While the major polls currently sit at 51-49 to Labor on the two-party preferred vote, those at Sportsbet appear rather confident of Labor’s chances.

The gambling site announced Thursday that they have paid out on all bets placed on Labor to come out on top.

It’s no small amount either, with $1.3 million sent out to savvy punters, including one man who has walked away with a $128,000 win.

“Our punters have spoken through their bets,” Sportsbet’s Rich Hummerston said.

“Seven of every 10 bets on the election are on Labor. They’re supremely confident we will be paying out on Saturday so we have decided to pay them early.

“Punters rarely get it wrong on elections.”

While that may be the case, the same can’t be said for those at Sportsbet, who have seen a similar PR stunt backfire.

RELATED: Federal election 2019: Scott Morrison and Bill Shorten deliver final pitches

RELATED: Scott Morrison tries to win over Chinese voters

In 2011, the online bookmaker declared that Carlton midfielder Chris Judd was such a certainty to walk away with the Brownlow Medal, they paid out punters more than $300,000 before the votes were even read out.

“We’re certain we’d be paying out on Juddy on Brownlow night as it is so punters might as well enjoy their cash early. They have had their money tied up for a long time so this is a service to them” Sportsbet’s Haydn Lane said at the time.

Dane Swan left Sportsbet a little embarrassed after setting a Brownlow Medal record. Credit: AAP

The only problem? Judd didn’t win.

He didn’t even come close.

Collingwood ball magnet Dane Swan ran away on the night, setting a new record with 34 votes, while Judd finished equal-fifth with 25 votes.

With odds of $4.75 to one, Scott Morrison and the Coalition will no doubt be hoping history repeats itself.