Sky News foreign affairs editor Tim Marshall said he believed the Israelis would hold back from mounting a full-scale invasion.
However, he said the stakes for their country were huge - particularly after the Lebanon war of 2006.
"The Israelis did not necessarily lose against Hizbollah in 2006, but they certainly didn't win, and Israel isn't the sort of country that can afford to be seen not to win twice," he said.
"It would be a massive blow for the Israelis if this operation went horribly wrong and they failed to achieve their objectives.
"For Hamas to claim victory, all they have to do is avoid defeat"