iPredict launches new election website

Prediction market website iPredict has launched a new website for the general election, providing constantly updated forecasts including the party vote share, every electorate contest and a graphical projection of the shape of Parliament post-election.

Daily commentary on the main market movers will be provided by www.electionresults.co.nz editor Ian Llewellyn, a former press gallery political reporter for The Independent and the New Zealand Press Association (NZPA). 

The site is powered by iPredict and sponsored by Matthew Hooton's PR firm Exceltium and online news-service Scoop.

iPredict chief executive, Matt Burgess, said www.electionresults.co.nz would bring to life the information on New Zealand politics available at www.ipredict.co.nz and would help bring new traders to the market.

“In Ian Llewellyn, we have also found someone with a very broad range of political and journalistic experience, in New Zealand and the United Kingdom, to bring to life what our market is telling us about the future,” Mr Burgess said.

Scoop managing director Alastair Thompson said online predictions markets were uniquely suited to provide data to other 24/7 news organisations, such as Scoop.

"Polls are static and out of date the moment they are completed and while they might be useful to fill the gaps in daily newspapers and 6pm news bulletins, the online environment can provide so much richer and more immediate information,” Mr Thompson said.

“At Scoop, we are delighted to be partnering with Exceltium and iPredict to bring this information to life and complement our own 24/7 election coverage.”

Mr Hooton said his company was committed to assisting iPredict in its growth.

“Across the world, predictions markets such as iPredict in New Zealand or inTrade in the United States are showing they are far more accurate, timely and relevant than traditional political polling and we have been pleased to work with iPredict over the last year to develop its offering,” Mr Hooton said.

“We’ve funded www.electionresults.co.nz because the proven predictive power of iPredict will continue to become more important in New Zealand politics and we want to be associated with its growth and success in the years ahead.”

iPredict is owned by Victoria University of Wellington.