Finally, the day we’ve all been waiting for – Israelis go to the polls today to elect a new Knesset and a new government for the first time since 2009. Despite the fact that we don’t have any results yet, I thought I’d set out a list of things we know and things we don’t.

Things We Know:

—Bibi Netanyahu and Likud Beiteinu are going to win the most seats in the Knesset and Likud will be the largest party. This is an easy one given the polls, since even with the Likud Beiteinu list losing about a seat a week for months now, no other party is going to come close to the 32-36 seats LB is likely to take. The irony of course is that Netanyahu created the joint list in order to create an unbeatable force, yet Likud might have done better on its own as banding together with Avigdor Lieberman and Yisrael Beiteinu likely cost Netanyahu seats for a host of reasons (and from the Department of Shameless Self Promotion, remember who told you months ago that this was a very bad idea on Bibi’s part). Despite the blunder, Labor is probably going to come in second with 15-18 seats, and Habayit Hayehudi and Yesh Atid are going to be battling for 3rd and 4th place. It is possible that the LB list will have twice as many seats as the next largest party despite its free fall in the polls, although this is a bit misleading since the two parties agreed to merge until only 30 days past the election, at which point they are free to revisit their agreement and separate. The most interesting little nugget about Likud being the largest party in the Knesset is that despite having served two terms as prime minister, this will be the first time that Netanyahu leads his party to a Knesset victory. When Netanyahu was elected in 1996, Israel was in the midst of its decade-long experiment of directly electing the prime minister, and so while Netanyahu beat Shimon Peres by 1% in the prime ministerial vote, Likud won 32 seats to Labor’s 34. In 2009, Likud came in second to Kadima, but after Tzipi Livni was unable to form a government, Netanyahu swooped in and cobbled together a governing coalition despite controlling the second largest party in the Knesset rather than the largest. By the end of today, Netanyahu will finally be able to say that he led his party to an electoral victory.

Things We Don’t Know

—Everything else. And I mean that. Aside from Likud Beiteinu winning the most mandates, I cannot say with 100% certainty what else will happen. I am 99% sure that Netanyahu is going to be the next prime minister, but there are enough weird things going on to give me that minuscule 1% pause. To begin with, there are an unusually high number of undecided voters, and while they might break Bibi’s way, I don’t think that Bibi’s base is one that is marked by indecision, unless that indecision comprises whether to continue to vote for Netanyahu or to go with the trendier rightwing choice of Naftali Bennett and Habayit Hayehudi.

Furthermore, Netanyahu’s margins are going to be very tight, and this means there is an outside chance that he pulls a Livni and can’t pull off putting together a viable government. I am as confident as I can possibly be that HH is going to be in the coalition, but then the coalition math becomes very tricky. It involves bringing in a centrist party such as Yesh Atid, which will clash with HH and the more extremist Likud voices over peace process issues, or going with Shas and UTJ, who are toxic to HH over the draft and toxic to Yisrael Beiteinu over both the draft and the religious-secular divide. Then there is the possibility that Aryeh Deri’s return to Shas means it is no longer so reliably rightwing and will give Netanyahu a harder time when it comes to coalition bargaining.

To throw another monkey wrench into this, there are the rumblings from all sorts of quarters that the electorate has shifted in the past few days and that the leftwing and centrist parties are going to do better than their polling indicates. If voter turnout is high, it means that left and center parties are going to do better than expected, in which case there is even a possibility that Netanyahu is denied the first chance to form a government. Last month I brought up the possibility of a unity government, which started to look ridiculous in the interim but now I am not so sure that I was off-base. Then there are the rumors that were flying around last night that Ehud Barak is going to be defense minister and Tzipi Livni foreign minister, which I find to be completely far-fetched given the rancor toward Barak exhibited by all sorts of newly influential Likud members and the fact that Netanyahu would never give Livni any real power as foreign minister while Livni would never accept the position to be a mere figurehead. All of this is to say that while Bibi is almost definitely going to remain as prime minister, the possibility of a black swan would not be entirely out of the blue. As for what type of coalition he will put together assuming he remains prime minister, your guess is as good as mine. If I have to predict something, it’s that we will see a nationalist bent due to the inclusion of Habayit Hayehudi, that the haredi parties are going to be left out, and that Yesh Atid will be brought in. This will allow Bibi to keep his rightwingers happy on peace process and settlements, let Yesh Atid have its pet issue of reforming the draft, and not have to worry about the secular-religious divide issue bringing down the government. I can also see Labor being brought into this mix if Netanyahu wants to have the coalition be as big as possible or if the numbers are such that he needs another party but wants to avoid bringing in Shas. Whatever happens, the next few weeks promise to be an entertaining ride.