Miliband bookies' favourite to become British PM

British opposition leader Ed Miliband was the bookmakers' favourite today to become prime minister after the May 7 general election.
The centre-left leader has overtaken Prime Minister David Cameron in the odds with the main betting shop firms -- even though the Conservatives remain the bookmakers' favourites to win the most seats.
Labour leader Miliband is 8/15 to be prime minister on August 1, meaning bookmakers think there is a 15 in 23 (65 percent) chance of this outcome.
Centre-right Tory leader Cameron is 11/8, meaning there is an eight in 19 (42 percent) chance of this happening.
Cameron's party is favourite to win most seats in parliament's 650-member lower House of Commons, though neither party is thought close to a 326-seat majority -- a hung parliament is now 1/10.

Miliband is favourite to become prime minister and thereby win the keys to 10 Downing Street because smaller, left-wing parties such as the Scottish National Party (SNP) have said they would give him their support rather than Cameron.

The head of state, Queen Elizabeth II, asks the person who appears most likely to command the confidence of the House of Commons to become prime minister and form a government.
"It seems illogical, but we are taking enough bets to cut our odds for Ed Miliband to be in Number 10 on August 1 from 8/11 to 8/15," said William Hill spokesman Graeme Sharpe.

"But at the same time, and despite a new poll giving Labour 277 seats and the Tories 270, we've have had to cut our odds for the Tories to win more seats than Labour to 2/5 from 4/9."
While the Tories are 2/5 to win the most seats, Labour are 15/8.
As for the general election outcome, a Labour minority government is 13/8; a Conservative minority government 11/4.
A Conservative-Liberal Democrat coalition -- the current set-up -- is 6/1.
A coalition involving the SNP is 7/1, as is a Labour-Liberal Democrat coalition; a Conservative majority is 15/2, while a Labour majority is 22/1.