Gujarat: Betting, though illegal in India, the business thrives underground mostly during cricket matches and elections. With Gujarat elections going on December 9 and 14, the bookies predict BJP’s win in the upcoming Assembly polls.
According to the ongoing predictions, the BJP is likely to win around 118-120 seats not much different than last assembly elections held in 2012 when the BJP has managed to win 119 seats.
According to the bookmakers on conditions of anonymity, there is 1000 Crore betting business associated with Gujarat assembly elections.
The bookies are offering Rs 1.25 for every Rs 1 placed on BJP win, whereas for Congress they are offering Rs 3 for every Rs 1.
There are only two parties that are in competition in the elections, though there are some other parties in the fray, according to bookies.
For Aam Aadmi Party, bookmakers are offering Rs 10 for every Rs 1 bet, on the Shiv Sena Rs 25 for Rs 1 bet and for Nationalist Congress Party Rs 30 for every Rs 1 bet.
In the early November, they were offering Rs 7 for every Rs 1 placed on a Congress win. The Congress is now in an advantageous position compared to its position in early November.
One of the bookie said that “The prices will change closer to the election date as we will get a much better picture on how both BJP and Congress have been performing.”
Another bookie said that “The Modi magic will ensure that BJP win the polls.”