• Kate Lundy to don Team GB shirt and row at Eton Dorney • Bet was made over who would win more medals

Australia's sports minister has conceded she is likely to be forced to endure cheery humiliation at the hands of her British counterpart at the conclusion of the London 2012 Olympic Games, after losing a bet that her country would be placed above the host nation in the medal table.

Kate Lundy will wear a Team GB shirt and be made to row at Eton Dorney after losing a bet with Hugh Robertson, the minister for sport and the Olympics. Robertson, perhaps with a canny eye on likely media exposure, promised that if Australia won more medals than Team GB he would play hockey inside Australia House, the Australian high commission in the Strand, London – a significantly less exposed location than Eton Dorney.

Lundy may have felt her team stood a good chance of outstripping the home athletes, but with Team GB currently in third place in the medal table with 48 medals and 22 golds while Australia only has 26 medals and five golds, it is not looking good for the minister.

"If Australia got more gold medals, then Hugh was going to put on a hockey T-shirt and dribble the ball around Australia House," she told ITV's Daybreak. "But if Britain gets more gold medals, I'm wearing the GB shirt and rowing a length at Eton Dorney. I have cheerfully conceded that I think I will be rowing this time around."

It has been a troubled performance for the uber-competitive Australian team, with Lundy describing her nation's performance at London 2012 as a shock. "I think a lot of Australians are looking at the result and saying 'Where are we?'. But can I say all credit to the British athletes who are having a fantastic Olympic Games."

Asked if it was the best-ever Games, Robertson said comparisons were not useful, before adding, inevitably: "I think London will reset the dial for Games to come."