The heavy rain has stopped bookies from accepting new bets for rainfall in Mumbai.
The bookies have sustained loss of around Rs 1,000 crore. The bookies had predicted 2,500mm rainfall in Colaba for the entire season and 2,800mm for Santacruz. The rainfall crossed the 2,600mm mark in Colaba and 2,900mm in Santacruz.
"We have stopped taking bets or opening new rates because we don’t want further losses," said a bookie.