With both the phases of Gujarat elections are done with, the whole nation is looking up to the results that will be announced on 18th December 2017. However, the question remains will BJP be once again take up the mantle for another five more years as they have been doing for the last 22 years or will it be Congress, finally getting some congressional support in the home state of the current Prime Minister of India. The 2017 Gujarat elections, has also been a cornerstone for political betting with INR 600 crore placed in bets by many punters.
If the exit poll of The Hindu is to be accounted for, the Bharatiya Janta Party is believed to win between 99 and 117 seats and the Congress between 64 and 82 and the chances are high that BJP would form the next government. Despite all speculations and polls, the political betting is riding the high tide. If a punter bets one rupee and BJP wins more than 110 seats in the elections then he or she would get Rs. 1.50 in return. If BJP manages to capture 125 seats or more, then the punter would get Rs. 3.50 and if BJP dominates the election results with 150 seat ore more than the return would be Rs. 7. In layman terms, if anyone bets Rs. 1000, he would get a return of Rs. 1500 given BJP wins 110 seats or more. The money betted on the elections will increase in geometric progression.
If the betting market is to be considered, BJP could be staring a modest victory and a far cry from BJP President Amit Shah’s claim that the party could secure 150 more seats.
Despite the improvement in its possibilities, the Satta market believes that Congress would end up somewhere down the line with 71-73 seats while the others party will get 5-7 seats.
The betting market is more confident about the Congress’ fortunes compared to 2012 but doesn’t expect it to come close to the majority mark. Bookies have offered Rs 3 for Congress capturing 99-100 seats and Rs 1.10 paise for gaining 75 seats.
Vijay Rupani has risen as the hot favorite amongst the bookie to become once again the chief minister of the state with Deputy Chief Minister Nitin Patel coming in close second. For Rupani 0.40 paise has been offered for every Rupee and 0.55 paise for Patel.
No bets have been placed on any Congress candidates as it has not announced its chief minister candidate.
Though betting is illegal in the country, the business flourishes underground during the cricket matches and election season.
The Gujarat Assembly has 182 seats. The first phase will go to poll on December 9 in 89 assembly constituencies. The second phase polling will take place on December 14 in 93 assembly constituencies.