Defending champions India are least likely to win the cricket World Cup, say Mumbai-based bookmakers who expect more than Rs 1000 crore to be placed on the final three matches of the tournament. Australia are the bookies’ favourite to win the tournament.
At the weekend, bookies were offering odds of Rs 1.50 (for a rupee’s bet) on India as against 50 paise on Australia for the semi-final on Thursday, meaning they did not favour Team India to even make the finals.
Overall, bookies were offering odds of Rs 6 on India (for a rupee’s bet), Rs 1.20 for Australia, Rs 3 for South Africa and Rs 4.50 for New Zealand to win the tournament.
Lower the odds, higher are the perceived chances of a team winning. So if a person bets Rs 100 on India and they go on to win the World Cup, the person stands to win Rs 600 since the Men in Blue are the least favourites, while a bet of Rs 100 on Australia would fetch returns of only Rs 120 as they are the favourites.
For the first semi-final at Auckland on Tuesday, odds on South Africa are 78 paise, making them the favourites to win against New Zealand (Rs 1.20).
“The rates, however, keep changing and are decided on the day before the match, based on several factors including injury to any player, weather, pitch condition, etc,” a bookie said.
Given the high stakes, many top bookies have left the state fearing police action and are functioning from Gujarat, Rajasthan and other parts of the country.
The police have reportedly placed informants at Bollywood parties to check for betting scams. The arrest of small-time actor Vindoo Dara in a 2012 IPL betting raid had revealed that many stars place bets and exchange information at such events.