Seat Betting Improves, But Still No Miracle, At The 2016 Federal Election

Advance Summary

1. Seat betting markets, sometimes considered to be highly predictive, returned another modest result at the 2016 federal election, predicting thirteen seats incorrectly.

2. Seat betting markets did however improve as a predictor of total seat wins compared to the 2013 election, at which they greatly overestimated the Coalition's winning seat margin.

3. Seat betting markets also performed impressively in their predictions of "non-classic" seats, getting only one (Cowper) wrong.

4. Overall the predictions of seat betting markets were extremely similar to those of poll-based projections.

5. Large swings to Labor in outer suburban and low-income seats, generally missed in public seat polling, gave seat betting markets an opportunity to show superior insight.

6. That chance was, however, generally missed, showing that seat betting displays no superior insights.

7. In terms of seat totals, individual seat markets again showed no notable insights, and were again outperformed by betting markets dealing specifically with the number of seats won.