Rs 10,000 cr is at stake on the satta market, including Rs 100 cr from Pakistan, as the fates of politicians are known today
Rs 10,000 cr is at stake on the satta market, including Rs 100 cr from Pakistan, as the fates of politicians are known today
While politicians can barely wait for the counting to get done with, bookies and punters seem to be having a field day. An estimated business of Rs 10,000 crore is at stake this poll season.
In the election betting circus women are on top. According to the bookies,u00a0 Trinamul Congress chief Mamata Banerjee, former Tamil Nadu chief minister Jayalalitha, Delhi CM Sheila Dikshit and Uttar Pradesh CM Mayawati are sure to bring success to their political parties.
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Hence, they command extremely low rates in the booking circle, said a Borivli-based bookie. The smaller the return, the better the chances of the candidates winning.
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Manmohan Singh continues to top the list of prime minister hopefuls with odds on him being 72 paise as against the Bharatiya Janata Party's (BJP) L K Advani at Rs 1.20.
As far as the two main political parties coming to power are concerned, the Congress-led United Progressive Alliance (UPA) commands 92 paise, up from 80 paise, which was the opening rate and the BJP-led NDA is fetching Rs 1.09, making them the underdogs. The BJP commanded an opening rate of Re 1.
There is a speculation that there could be an alliance between Jayalalitha, Mayawati and Chandrababu Naidu, the odds for this are being pegged at Rs 1.20.
Bookies predict that the Bahujan Samaj Party led by Mayawati can win 35 seats and have placed odds worth 80 paise for the same.
The Samajwadi Party, led by Mulayam Singh is commanding 90 paise for 20 seats and 80 paise are on offer for the Shiv Sena winning 15 seats in Maharashtra.
Bookies from u00a0across the border
Bookies have a strong network and in India have set up base in the Kutch region of Gujarat. There are others who have moved to Surat, Vadodara and Ahmedabad as they are constantly on the radar of the Mumbai police, inform insiders.
It's not just Indian bookies playing with the various permutations and combinations this poll season.
Interestingly, the Lok Sabha elections have got bookies from across the border also hooked on with those from Pakistan betting to the tune of Rs 100 crore.
A high-profile bookie operating from Thane disclosed that most of the bets from Pakistani punters will be routed through Dubai. Money will change hands through hawala transactions in the Gulf countries.
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