What effect would a third-party candidacy have on the election?

The most notable person speculated to jump into the race late this year was former New York City Mayor Michael Bloomberg, who announced in March that he won't run in this election. But even though Bloomberg is opting out, some people are still holding out hope that a third name will make it onto the ballots.One name that's reportedly been raised in political circles is former Texas Gov. Rick Perry (R), though the governor has denied interest in running. But it would be an uphill battle for Perry to run against Trump if he secures the Republican nomination, Parry-Giles said."He's got to hire people, get people going, get up to the offices, make up the signs, do the planning, all that stuff — and he's got to do it really fast, and really quickly…That's why the two-party system is so strong in the United States. It's been in place for decades and has a very strong foundation throughout the country."And of course, Trump has threatened to launch an independent run if he doesn't secure the GOP nod. "We're going to have to see how I was treated," the self-funding businessman said. "I want to be treated fair."While Bernie Sanders is an independent senator, don't expect him to run as an independent candidate if he doesn't secure the Democratic nomination. "I think the odds are much greater that you’ll get a Republican-type third-party bid," Parry-Giles told Refinery29. "I think Bernie Sanders knows that it would be a fool's errand."