ELECTION RESULT: TORIES FAIL TO WIN MAJORITY
The Conservatives have not won an overall majority at the General Election, according to the betting on Betfair. David Cameron's party are now given just a 1% chance (odds 39-1) of winning a majority.
This puts them past the 'point of no return', whereby when a party drops below 10% in the betting they have never come back to win. This has been the trend at all major elections since Betfair was founded in 2000
A Hung Parliament is now a 99% chance (odds 1-100), while the current seat forecast stands at 312 Conservatives, 245 Labour and 61 Liberal Democrats.
Favourite in the betting on what happens next is that David Cameron will end up as Prime Minister in a minority government, currently a 67% chance (odds 1-2). Gordon Brown leading a minority government is at 17% (odds 5-1), while any other Prime Minister is on 12% (odds 7-1).
The game is up for the Conservatives tonight. Yes they have won the most seats, as our markets have been forecasting for months, but the prospect of a Conservative majority is now all but over.
The betting markets have an incredible record at predicting events at this stage of the day and our punters, who have bet millions of pounds on this election, say it's a Hung Parliament.
As to what happens next, punters are pointing to David Cameron leading a minority government as the most likely outcome. Given all that's happened tonight, though, anything could happen.
Latest Betfair Predictions: (05:30 GMT)
- Betfair Seat Forecast: 312 Conservatives, 245 Labour, 61 Lib Dems, 32 Other
- Betfair Overall Majority Forecast: 99% (1-100) Hung Parliament, 1% (39-1) Conservative majority, 0% (999-1) Labour majority, 0% (999-1) Lib Dem majority
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