We all know date of election, but do you know who will get most seats? There is one truth about General Election, and that is they are always unpredictable. There are so many different factors that need to be taken into account so you can never be sure who will get most seats. Will it be Conservative party with David Cameron, Labour with Ed Millibad or even Liberal Democrats with Nick Clegg? While we, ordinary people, can only ponder about who will win majority, betting markets manage to give us accurate political forecasting. This is really an incredible achievement because they can do it before statistical sampling, past vote weighting and quotas. How do you think they can do this? How can they be so precise? But when you consider that they could predict the name of a royal baby with great precision then this is definitely not a problem for them.
Did you know that voters elect a parliament; but not the government or prime minister? It’s then up to that parliament to decide what shape the government will take. The truth is that each party has some good ideas and their loyal voters who want to see them on the seats in the parliament. Even though most of us are aware that Green party or UKIP won’t get as many seats as Conservative or Labour party we want their voices to be heard, right? However even though our expectations may come close, the accuracy of betting markets predictions is stunning. Although we are all aware of their magical powers so we are not surprised by the fact that they can predict everything with such ease, we are still interested in how they manage to do it. Check out this interesting infographic to find out what betting markets actually do to predict the General Election.
