Gulf, Pak punters bet big on UPA

Dubai accepting overseas bets, Jaipur and Goa local.

Punters from Islamic countries around the world are betting big on the survival of the United Progressive Alliance (UPA) government. The Manmohan Singh-led UPA government is facing a trust vote in Parliament tomorrow and bookies in “satta bazaar” (the illegal betting market) have accepted bets of nearly Rs 1,000 crore from punters in Dubai, UAE, Pakistan and South Africa.

“It looks like cricket is not enough. Even Indian politics is a game for the oil-rich Sheikhs to bet on,” said a source.

Bookies had already accepted bets of over Rs 500 crore in the local market and the odds were in favour of the UPA government sailing through the crisis. Since then, the betting in local market has crossed Rs 2,000 crore.

Meanwhile, bookies have chosen Dubai as the main centre for accepting all overseas bets. In India, Goa and Jaipur are the main centres, a punter said on condition of anonymity.

Sources said the bookies are in touch with some of the top politicians of all the major parties and the odds wildly fluctuate on every development.

Currently, the punters can earn 39 paise on every one rupee bet on the UPA managing to get 272 seats against the earlier odd of 30 paise.

On Monday morning, the odds had even reached 50 paise on every one rupee for the same number of seats as several members of Parliament were not present on the first day of the special session.

On 273 seats, the bookies are now paying 62 paise against the earlier odd of 55 paise. The odd for 274 seats has gone as high as Rs 1.50 against the earlier 72 paise.

The bookies would pay Rs 2.40 on every one rupee bet on the condition that the government falls.