Mr Turnbull, a loyal Roosters fan, took to the stage at the event at and was asked by host Tony Squires what he thought of the team's loss to the Brisbane Broncos on Friday.
"The Roosters had very bad luck," he said.
"I thought that was a very good pass – Shaun Kenny-Dowall's pass – it just went to the wrong person."
Mr Turnbull went on to give an account of what had happened.
“There’s a lot of luck in rugby league and there’s a lot of luck in politics,” he said.
“Shaun Kenny-Dowall’s pass was intercepted by Darius Boyd and then Ben Hunt did not [throw] quite so long a pass and of course set up a try. It’s the result of course that matters.”
Some players in the audience looked confused by the prime minister’s commentary.
Mr Turnbull was then asked who he would be supporting in the grand final on Friday.
“Well I think the prudent course for a prime minister would be to be a bit like Wayne Bennett at a press conference and say as little as possible,” Turnbull said.
Fans reacted quickly to the speech on Twitter.