Is Israel's King Bibi's crown slipping?

This is a battle for survival for Benjamin Netanyahu.

But exit polls show King Bibi's crown slipping -- after he failed to win a clear victory for the second time this year in parliamentary elections.

Official results could take another week but almost certainly they'll mean stalemate, and haggling over the next government that could drag on for weeks.

Netanyahu's challenger, Benny Gantz, said Wednesday (September 18) Israel's longest-serving prime minister was defeated.

This was Netanyahu's subdued, hoarse speech to his Likud party faithful at the dead of night on Tuesday (September 17). He made no claim to have won.

It was a far cry from this election night back in April, when he declared a night of -- quote -- "colossal victory," only to become bogged down in drawn-out horse-trading that failed to produce a government.

All eyes are on the man who could be kingmaker; Avigdor Lieberman, who is from the far right.

He's Netanyahu's former aide-turned-rival -- who stood up to his former boss five months ago and helped trigger this election, and may now get to decide whether the Netanyahu era goes on or comes to an end.

Both challengers will likely need him to create a coalition.

But he has refused to join forces with Netanyahu if he's indicted for corruption.

Because there's more than a long political career at stake.

Losing office would expose Netanyahu to a higher risk of being found guilty of graft -- where he faces three investigations and a pre-trial hearing next month.

As for the Palestinians; few can see much difference between the main challengers.

Hawkish Netanyahu last week vowed if he won to annex the Jordan Valley in the occupied West Bank last week -- part of the land where Palestinians seek statehood.

But Gantz's Blue and White party, while promising to pursue peace, still says it would boost settlements and security zones on occupied territory.