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|Admittedly I haven't studied British policy indepth during the war but I don't think there was a serious chance of them entering the war. There were factions in their government that definitely liked the idea of America splitting up into two seperate nations. They entertained it to a degree. But the US also had allies in England that resisted intervention. The European monarchies in that era didn't like rebellions. It gave people they ruled ideas of their own.
Plus the US Navy by mid-war would have given the British navy a very hard time on the high seas. They would have raided British shipping on the sealanes. Held their own in ship to ship confrontations. Canada would have been at risk. Despite a protracted war with the South there was still manpower available in the North to cause major problems for the British in Canada. It just would have created a lot more problems for the British than what it was worth. The French...they weren't going to do crap as long as the Brits stood on the sidelines.