Bookmakers: 1/3 chance of new UK election in 2010.

Bookmakers see a better than 1-in-3 chance of another British election this year, after Thursday’s vote made the opposition Conservatives the biggest party in parliament but short of an overall majority.

Both William Hill and Ladbrokes assessed the chances of an election re-run during 2010 at 7/4 against, or a probability of 4 in 11.

“Given the lack of a clear winner, there’s every chance we could be heading back to the polling station before too long,” said Ladbrokes spokesman Nick Weinberg.

The inconclusive result means either the Conservatives or Labor will have to rely on formal or informal support from one or more smaller parties to secure a majority in parliament.

The last British “hung parliament”, in 1974, lasted only seven months before another election was held.

William Hill offered odds of 10/11, a probability of just over 50 percent, of both another “hung parliament” after a fresh election, and of a Conservative overall majority. Labor are 9/1, or one chance in 10, to conclusively win a second vote, with the Liberal Democrats at 66/1.


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