Yet another new Lib Dem market from William Hill. Somebody there is having a busy week! They are now offering the same odds on Charles Kennedy ever becoming Prime Minister as they are for the Queen to abdicate – 33/1.

We do not generally like open-ended markets like this because the bookmakers gets hold of your money and can sit on it for a very long time. However 33/1 seems good value. If the Lib Dems do well at the next election Kennedy’s leadership would probably be secure and they would be in with a reasonable chance for the election after next. But things could happen earlier. If the next election produces, as is becoming more likely, an inconclusive result then anything can happen.

As for the Queen abdicating the 33/1 seems a good price as well. What about linking the bets and get £1,156 for a £1 stake on the Kennedy-Queen double?