After World Cup losses, bookies now pin hopes on IPL
While the country was high on the World Cup victory, bookies were not so happy.mumbai Updated: Apr 07, 2011 01:29 IST
While the country was high on the World Cup victory, bookies were not so happy.
“This was not a good World Cup for bookies,” a Mumbai-based bookie said requesting anonymity because betting is illegal in India.
Bookies, who lost around Rs10,000 crore during the World Cup cricket matches, are now hoping to make profits during the Indian Premier League (IPL) Season 4, starting from April 8.
The total turnover for the bookies was more than Rs50,000 crore in the World Cup, sources said. In the IPL tournament, bookies expect betting worth over Rs75,000 crore.
“In the World Cup, we lost heavily on India-Pakistan semi- final and the final as most of punters had placed bets in favour of India, despite so many ups and downs,” the bookie added.
For the IPL, bookies have placed Mumbai Indians as favourite to win the IPL with a rate of Rs5 per rupee bet. Royal Challengers Bangalore and Kolkata Knight Riders follow with odds of Rs6.4 and Rs6.8 per rupee bet respectively (See box, The IPL Favourites).
The lower the rate, the more are the chances of that result taking place. Meanwhile, according to sources, during the World Cup, some politicians from across the country had placed bets on the cricket matches. Bookies claim that the same set of politicians have also pledged huge amounts on the IPL matches.