Dainik india news:With voting concluded in the Lok Sabha elections, all eyes are now on the results. Exit polls are predicting more than 350 seats for the BJP alliance. There’s also an exit poll from the betting market. According to the betting market, the BJP is expected to win 303 seats, while Congress is projected to secure 64 seats. For the first time, it’s estimated that betting worth 6-7 lakh crores has taken place on the elections in Mumbai’s betting market.
Senior journalist Vivek Agrawal, who has been covering underworld news for 30 years, explains that illegal betting markets operate in many cities across the country, with Mumbai hosting the largest one. There are 10 other major betting markets in the country. Vivek mentions that in the 2019 Lok Sabha elections, the BJP won 303 seats, while Congress managed to secure only 52 seats. Mumbai’s betting market had predicted 300-310 seats for the BJP and 50-60 seats for Congress, which was quite close to the actual results. However, predictions regarding alliances were not accurate.
Vivek further explains that bookies start preparing for the Lok Sabha elections three months in advance. About a month before the elections begin, the bookies had set an “even money” rate for the BJP winning 316 seats and a similar rate for Congress winning 55 seats. After the first two phases of voting, the rates in the betting market began fluctuating, indicating a decrease in BJP’s chances of winning. However, after the fourth phase of voting, there was a surge again in favor of the BJP in the betting market. Now, the BJP is predicted to win 303 seats, while Congress is estimated to win 64 seats.
According to Mumbai’s betting market, the rates are as follows: 12 paise for BJP winning 250 seats, 27 paise for 275 seats, 1 rupee for 301 seats, 1.65 rupees for 310 seats, and 3.50 rupees for 325 seats. For Congress, the rates are 33 paise for 50 seats, 1 rupee for 60 seats, 1.15 rupees for 61 seats, and 1.40 rupees for 62 seats. The BJP is the favorite among bookies, who are confident that Congress will not win more than 60-62 seats.
Mumbai’s betting market also sees the BJP as the largest party this time. For the first time, it has opened bets on state-wise seat acquisitions for the BJP. Additionally, the market has made predictions on VIP seats, party-wise seats, and state-wise seat distributions. According to Vivek, various betting markets have released their own estimates, including potential seat counts for BJP, NDA, Congress, and the INDIA bloc. Mumbai’s fancy market also opens bets on which candidate will win specific seats.
