Bookmakers have cut their odds on Labour forming a minority government after the general election with the Scottish National Party (SNP).
William Hill have Ed Miliband as the favourite to become the next Prime Minister at 4/5 and has taken “three figure bets” on his party entering a coalition with the SNP at odds of 13/2.
The bets are rolling in after Alex Salmond, the party’s former leader, told The Independent that the SNP could set aside its convention of MPs abstaining from votes on English-only laws to prop up a minority Labour government.
Graham Sharpe, William Hill’s politics spokesperson, said: “We have had to cut our odds for a Labour minority government from an original 7/1 to 4/1 in the face of continued support, perhaps on the basis of them forging an agreement or understanding with the SNP.
“We have taken a number of three figure bets for such an eventuality, including one of £200 from a new client based in Derbyshire.”
Some critics do not deem Labour's success so likely - Tony Booth, the actor and father of Cherie Blair, said the party could only win under Mr Miliband in their "f****** dreams".
"This is not play school,” he told Newsweek, claiming his son-in-law Tony Blair would stand a better chance.
He added: “With Miliband, you find yourself thinking, ‘This is a good kid, but when is he going to get into long pants? Are we just putting him up as a dummy until we find the right person?’”
Mr Salmond told The Independent he would “lay odds on a balanced parliament” that would put power in the SNP's hands and stridently ruled out any co-operation with the Tories.
“That’s an opportunity to have delivered to Scotland what we have been promised,” he added.
In pictures: Ed Miliband trying to look normal
In pictures: Ed Miliband trying to look normal
1/17 The beggar
Ed Miliband casually gives money to a homeless woman in Manchester, surrounded by press photographers.
2/17 The Bacon Sandwich
Ed Miliband buys a bacon sandwich from cafe owner Antonios Foufas at New Covent Garden Market in London as he kicks off a day of campaigning on the eve of the local and European elections
3/17 The Bacon Sandwich
Ed Miliband chats with a cafe owner Antonios Foufas at New Covent Garden Market in London
4/17 The Bacon Sandwich
Ed Miliband embarked on a whirlwind campaign tour of England - but struggled at the first hurdle (a bacon sandwich). Aides intervened after just a few less-than-elegant bites
5/17 Flower Shopping
Ed Miliband talks with a couple of traders at New Covent Garden Market in London
6/17 Flower Shopping
Ed Miliband purchases some red roses for his wife at New Covent Garden Market in London
7/17 Talking Business
Ed Miliband talks with a trader at New Covent Garden Market in London
8/17 Good Morning Britain
Miliband on ITV's Good Morning Britain show on 20 May 2014, a day of gaffes in which he was also caught out by BBC Wiltshire for not knowing who the local Labour leader was
9/17 '£70 Weekly Shop'
Ed was accused of being 'out of touch with reality' after he seemed not to know what he - or the average British family - spends on a weekly food shop
10/17 Drop in Polls
Ed Miliband paid a visit to Leighton Hospital in Crewe to speak with the staff about the NHS, but faced difficult questions about polls showing his personal ratings falling well behind those David Cameron and George Osborne
11/17 On the Sofa with Farage
Ed Miliband appeared on the Andrew Marr Show to debate with Nigel Farage - but has all but conceded defeat in the Newark by-election, allowing Ukip a free run at the Tories
12/17 Wollies in Wellies
Miliband was among a number of politicians to come under fire for 'touring' the floods in the South and South West earlier this year
13/17 Wollies in Wellies
The Labour leader admitted it was 'a difficult decision for politicians whether to visit areas like this'
14/17 Missed Opportunity
Miliband's performance at the Labour conference last year failed to make much of an impression on voters, polls suggested
15/17 Sharing the Moment
Miliband, Nick Clegg, David Cameron and Angus Robinson enjoy their moment with Andy Murray, after the tennis player's Wimbledon win
16/17 Casual Husband
Miliband and his wife Justine are pictured in their hotel room in Brighton as he prepares to give his keynote speech to the annual Labour Party Conference
17/17 The Milibands
Just your average family of four?
The former Scottish First Minister is the 1/8 favourite to become an MP in the Gordon constituency and 6/1 to become a government minister following the election.
William Hill have opened the books 2/5 on there being no overall majority after May’s election, 4/1 on a Labour victory, 9/2 on the Tories winning, 50/1 for Ukip and only 500/1 on the Liberal Democrats.
A coalition involving Ukip is on 6/1 and 40/1 for one involving the Green Party.
Ladbrokes also has Labour and Mr Miliband as the favourites, with a Labour/SNP coalition at 16/1, down from from 20/1, and the books open on Mr Salmond becoming Deputy Prime Minister.Reuse content