Hyderabad: Punters and betting enthusiasts who were keenly watching the trends of ZPTC and MPTC vote counting since Tuesday night, jumped into action to cash in on the situation literally, by raising the stakes of betting.
However, with the local body election becoming one-sided, those who have invested heavily on the losing party are getting jittery.
By Wednesday, operators offered new odds on Assembly and LS polls.
Till Monday, the odds were on the total number of seats a particular party would win in a region. The odds offered on Wednesday were: 40:60 wherein 40 was for the favourite party.
In Seemandhra, the Telugu Desam was the favourite against the YSR Congress. In Telangana, the TRS has been slotted as favourite against the Congress.
“In Seemandhra, if one invests Rs 1,000 on “40-favourite” for the TD, then they will get back Rs 1,400 if they win. If the TD loses, they will lose their money. If one bets Rs 1,000 on “non favorite-60” for the YSR Congress, then on winning, he will get back double the amount, that is Rs 2,000,” said a city-based punter.
The odds changed on Wednesday after industrialist and former Congress leader Lagadapati Rajagopal, known for his political surveys and exit polls, predicted a win for the Telugu Desam in Seemandhra and the TRS in Telangana.
Those who had invested heavily on the YSR Congress in Seemandhra are thus getting jittery. Most of the betting in Seemandhra was on the YSR Congress as until the last three days of campaigning in the region, many had heavily invested on the party hoping it to win.
“Heavy betting was on for the YSR Congress in Seemandhra since start of betting in the first week of March. Until the last three days of campaigning, the YSR Congress was the favourite of many".
"The betting trend changed towards the TD-BJP combination only after Narendra Modi and Pawan Kalyan started campaigning in the region,” said another punter.
An estimated Rs 10,000 crore betting money is said to be in circulation in Seemandhra while in Telangana it is around Rs 6,000 crore....