Large-scale betting has begun on the first Twenty20 cricket World Cup that begins on September 11 in South Africa.
The World Cup is estimated to witness betting to the tune of Rs 5,000 crore to Rs 6,000 crore with Australia being the favourite. The rates for the tournament were opened on Saturday afternoon by six bookies from Jaipur, Kolkata, Guwahati and Indore. The bookies, known to be experts in cricket betting, opened the rates in Jaipur.
A Mumbai bookie, who also started accepting bets immediately after the rates opened, said an Australian win was quoted at Rs 2.15 for every rupee on bet. That means, if a punter bets one rupee on Australia winning — and if that happens — he will get back his one rupee, and an additional Rs 2.15.
South Africa were placed as second favourites with odds of Rs 4.80. New Zealand and England follow with Rs 9 and Rs 9.30 respectively, followed by Sri Lanka with odds of Rs 10.25 for a win.
India were placed sixth, with a rate of Rs 10.5 followed by Pakistan (Rs 13), West Indies (Rs 16) and Bangladesh (Rs 70). Zimbabwe, Kenya and Scotland were placed in the last three positions with rates of Rs 180, Rs 500 and Rs 1,000 (per rupee bet) respectively.
Bookies in Mumbai said India and other Asian countries were placed low on the list as they lack experience in this kind of cricket. Bookies added Australia were a favourite as they had won the (regular) World Cup recently.
India is the bookies' favourite for their opening match against Scotland. The odds are superlatively in favour of India with 11 paise as against Rs 10 of Scotland.
Bookies believe India will defeat Pakistan in their second match. The odds are in favour of India with 80 paise per rupee bet as against Rs 1.10 of Pakistan.
Bookies said they were also keeping a close watch on India's performance in the one-day series against England that would start on Tuesday.
"Accordingly, the rates on India might change," the bookie said, adding that World Cup being the first of its kind, the betting community was keen on taking chances on it.