Bookies hope it still pours, bet on Mumbai rains
Bookies plan to intensify betting on monsoon and expect business to shoot up to Rs. 5,000 crore this year, from around Rs. 3,000 crore in previous years. Manish Pachouly reports.mumbai Updated: Jun 04, 2013 02:16 IST
Intensified police crackdown on the betting mafia after the T20 spot-fixing scandal has failed to deter bookies from opening rates on rain in Mumbai.
They plan to intensify betting on monsoon and expect business to shoot up to Rs. 5,000 crore this year, from around Rs. 3,000 crore in previous years. Bookies expect monsoon to arrive in Mumbai by Saturday.On a Decline
"Betting on cricket has declined substantially with the arrest of some key bookies. Even the Champions Trophy will see a low turnover," a bookie said, requesting anonymity. He said bookies who decide rates for Mumbai rains are different from those who take bets on cricket.
Around 12 bookies from Delhi, Jaipur, Kolkata and Guwahati arrived in the city around four days ago and opened the rates.
They will stay here for a few days after the onset of monsoon to change the rates according to the rainfall.
“Owing to stricter police vigil and action, these bookies would stay in the interior parts of Navi Mumbai and Thane rather than check into Mumbai hotels, the practice earlier. Also, they would a stay in groups of two against the earlier norm of four to five in a room,” the bookie said, adding that they would chose different hotels to avoid the law enforcement agencies.
Sources said these bookies will visit Mumbai in small groups after the onset of monsoon to study the weather conditions.
After these 12 leave the city, another set of bookies would arrive to keep a watch on the rainfall and change rates accordingly.
Bookies said they would also SMS punters to inform them about the forecast for the next 24 hours.
Bookies place bets on monthly rainfall, from June to September. Besides, they also place bets on seasonal rainfall (total from June to September).
They expect 1,800 mm to 2,000 mm rainfall this season.
First Published: Jun 04, 2013 01:15 IST