Patriotism benefited punters by Rs 3,000 cr
Patriotism benefited punters who made around Rs 3,000 crore in the India-Pakistan World Cup semi-final, which was played at Mohali on Wednesday.india Updated: Apr 01, 2011 02:17 IST
Patriotism benefited punters who made around Rs 3,000 crore in the India-Pakistan World Cup semi-final, which was played at Mohali on Wednesday.
But the punters gain turned out to be bookies' loss.
The match witnessed around Rs 6,500 crore worth betting with bets coming from India, Pakistan and various Gulf nations.
There was also huge spot betting on fall of wickets, boundaries, runs scored by batsmen of both the teams and total scores of the teams. Bookies said that despite the men in blue struggling at one moment, a majority of the punters in the country placed bets on India's win.
Before the start of the match, the rates were in India's favour with its win quoted at 62 paise per rupee bet. Pakistan's win was quoted at Rs 1.51 per rupee bet. The lower the rate, the more are the chances of that result taking place.
Bookies said after India won the toss and decided to bat the odds further went in its favour.
After Virender Sehwag's fiery batting, the odds rose in India's favour with 32 paise, while Pakistan's chances became poorer with a huge rate of Rs 3 per rupee bet.
But when India lost quick wickets, Pakistan turned favourite with a rate of 80 paise per rupee bet, while India's win was quoted at Rs 1.1.
A good start by Pakistan's batsmen made the bookies favour them, who quoted its win at 70 paise per rupee bet. The odds on India went up to Rs 1.45 per rupee bet.
"However, at that time, too, around 95% punters in the country placed their bets in India's favour," said a bookie from Mumbai, on condition of anonymity because betting is illegal in India.
But after Pakistan started losing wickets at short intervals India emerged as clear favourite with a rate of just 10 paise whereas the odds on Pakistan was Rs 5 per rupee bet.
India favoured to lift World Cup
India is favourite in the World Cup final against Sri Lanka on Saturday. Bookies have quoted India's win at 67 paise per rupee bet while the rate for Sri Lanka is Rs 1.45.
"Earlier we had planned to open equal rates, of 95 paise per rupee bet, for both the teams, but looking at India's performance against Pakistan - their disciplined bowling and fielding - we gave India an edge over Sri Lanka," the bookie said.