Bookmakers have cut the odds on a second general election this year after a punter placed a whopping £200,000 bet on a hung parliament.

William Hill said it was the largest bet it had ever taken on a UK General Election.

The odds on the vote resulting in no outright winner, with no party gaining enough seats to form an overall majority in the House of Commons, have now been cut from 2/9 to 1/6.

The bookie also said there had been " hefty support" for bets there would be two General Elections in 2015.

It has cut the odds on that outcome from 8/1 to 7/2.

The last time there was two parliaments in the on year was in 1974 after Prime Minister Edward Heath and the Tory party lost by 297 seats to Labour's 301, while the Liberal Democrats gaining more than twice as many votes as they had in 1970

Negotiations made between Heath and the Lib Dems fell through, and after his resignation a second election in the autumn saw Labour returned with a small majority.

William Hill have set the odds on a Labour majority government at 25/1 and a Tory majority at 5/1.