Bill Shorten, the former union boss who orchestrated the execution of Kevin Rudd from the Labor leadership, has been backed by punters to lead the party to the next election.

While hundreds of punters sweat on the final election outcome, Mr Shorten, the Parliamentary Secretary for Disabilities, has been installed as the clear favourite with bookies to topple Prime Minister Julia Gillard, who is fighting to form a minority government.

Chloe Bryce and Bill Shorten on their wedding day in November last year.

Leading betting agency Centrebet has Mr Shorten, a Victorian Right figure who is married to the daughter of Governor-General Quentin Bryce, a $2.70 favourite, with Ms Gillard at $4.10.

Mr Shorten is widely credited as having joined forces with NSW Labor powerbroker Mark Arbib and South Australian party factions boss David Feeney to launch the dramatic late-night assault on Mr Rudd's prime ministership in June.