BY J.R.PRASAD
Hyderabad, April 17: Several punters who bet on the Congress winning the elections are anxious about the outcome after the first phase of elections in Telangana. The Congress says it has done well, but the Opposition Mahakutami has all but claimed victory.
The betting trend has turned, and punters are now backing the Mahakutami.
According to Mr Ashok, a bookie, who runs the betting business from Visakhapa-tnam, the odds have chang-ed in favour of Mahakutami in the past week because of the TD’s cash transfer promise. He said going by present calculations, the Mahakutami would win more than 135 seats.
“We are offering 1:0.95 for punters who bet on 135 seats for the Mahakutami. For every rupee bet on Mahakutami, the punter will earn 95 paise,” he said.
The other rates are: 1:1.10 for 140 seats for
Mahakutami, 1:1.25 for 145 seats and 1:1.5 for 150 seats. The odds may change every day.
After the first phase, bookies are offering very high rates for those willing to bet on the ruling party. “Till a week ago punters favoured the Congress. Now, many are betting on the Mahakutami,” said Mr K. Narasimha Raju, a bookie in West Godavari district.
According to one estimate, Rs 500 crore has been wagered on the poll outcome in the state. Mr Vinaykumar Reddy, a city-based speculator, said he had put Rs 25 lakh on the Congress winning the polls in the Telangana region.
Betting activity has shifted to coastal Andhra after the first phase. At some places in West Godavari, East Godavari, Krishna and Guntur, crores of rupees are being bet on the results. Visakhapatnam, Bheemavaram and Vijayawada have become focal points for political betting for the second phase of polls.
The Praja Rajyam is the least favourite: Punters are offered seven to ten times the betting amount if Chiranjeevi’s party wins power.
From contractors to film producers, several bigwigs participate in these bettings with large amounts of money. As soon as one places a bet on a political party, one has to pay the amount to the bookie. A slip and a code number is given to the punter.
When the outcome is known, the bookie pays the earnings to the winning punters. It is a business that runs on trust.
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