Betting on SA state election

In the absence of recent polls re the SA State election I checked up on what the betting was telling us and was frankly amazed that Labor was a short priced favourite to win with all the on-line betting agencies I checked. Can they possibly be right? After all Labor has been in govt for 16years and a win would take them to 20years.

Sportsbet has the following:

State Election Winner

• Saturday 17/03/2018
• Applies the next South Australian state election and the party to provide the Premier.
  14:30
  South Australia - State Election Winner
  Markets (1)
  Labor1.72
  Liberals2.35
  South Australia Best Party7.50