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Bets worth Rs10,000 crore placed on Lok Sabha polls, Narendra Modi a hot favourite

Sunday, 13 April 2014 - 9:10am IST | Place: Mumbai | Agency: dna

Heavy betting on election results happening in Mumbai, Delhi, Ahmedabad, Indore, Jaipur, Karachi, and Dubai

Heavy betting on the outcome of the Lok Sabha elections is taking place in Mumbai, Delhi, Ahmedabad, Indore, Jaipur, Karachi, and Dubai with sources saying bets worth Rs10,000 crore have already been placed.

A top bookie told dna on Saturday that there is maximum betting on the chances of Narendra Modi becoming prime minister with the odds being 30 paise late on Friday night. This translates into a gain of 30 paise for every rupee bet on NaMo becoming PM.

For Rahul Gandhi, it is Rs5, which indicates that the number of bettors fancying him as PM was relatively low.

In Varanasi, Modi is certain to score a victory with the 'bhav' being 10 paise.

Overall, there is speculation that the BJP will secure 235 seats, which is below the magical figure of 272. But the saffron party with help of allies will be able to form the next government.

The 'bhav' is Re1, which means that for every rupee you bet on the BJP securing 235 you get Rs2. A punter Vijay Ranka (not his real name) said: "I have bet Rs1 lakh on the BJP getting 235 seats. I am looking forward to earning Rs2 lakh."

According to the betting world, the BJP is expected to secure 55 seats in Uttar Pradesh and Uttarakhand. In Madhya Pradesh, it will get 27, in Gujarat 26, in Bihar 29, in Rajasthan 23, in Maharashtra 17, in Karnataka 19, in Jharkhand 10, in Chhattisgarh 10, in Odisha 6, in Assam 5, in Punjab 4, in Andhra Pradesh 2, and in Goa 2.

For each rupee bet on this pattern of results you will get Rs2. Sources said the mood in north India is distinctly pro-BJP and this is reflected in the betting pattern. The figures show that the BJP will do very well in states where it is in power, including Gujarat, Rajasthan, Madhya Pradesh and Chhattisgarh.

In Maharashtra, the Shiv Sena is expected to bag 10 seats with a bhav of Re1. Overall, the Congress is likely to get 70 seats. In Mumbai, the Congress is "sure" to win three of the six seats — Mumbai South-central, Mumbai South and Mumbai North-central, the bookies say.

As usual, the Dawood Ibrahim gang is masterminding much of the betting with the operational headquarters being in Karachi.

Meanwhile, certain candidates have sought the underworld's help to win. While Chhota Shakeel, Dawood's chief lieutenant, has been approached by certain Congress activists, the Arun Gawli gang is believed to be backing the Shiv Sena in Central and South Mumbai. Certain activists in Mumbai North-east have sought the help of Chhota Rajan.

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