Bookies lose `1,000 crore over India's 3rd Test defeat
The roller coaster third Test match between India and West Indies proved dearer for punters who lost about Rs1,000 crore with the match ending in a draw on Saturday.mumbai Updated: Nov 28, 2011 01:55 IST
The roller coaster third Test match between India and West Indies proved dearer for punters who lost about Rs1,000 crore with the match ending in a draw on Saturday.
The bookies also lost around Rs400 crore on Sachin Tendulkar missing his hundredth ton in international cricket just by six runs.
Before the Test match at Mumbai commenced, India, which had already won the Delhi and Kolkata tests, was favourite with 53 paise per rupee. A draw was quoted at Rs2.8 per rupee while the odds on the West Indies' winning the Mumbai Test was placed at Rs11 per rupee.
Lower the rate, better the chance of that result happening.
Bookies said that most of the punters had bet in India's favour.
However, with West Indies making 590 runs in the first innings and India getting to 482, the odds tilted towards a draw with a rate of 10 paise per rupee bet, following which Indian win was quoted at Rs10 while West Indies still remained behind with odds of Rs22.
Bookies said that the rates further fell drastically with West Indies getting all out at 134 in second innings and India became favourite with odds of 80 paise per rupee while a draw was quoted at Rs1.25. The rate for West Indies winning the match was Rs14. "Just before the last over of the match, the rates further changed in India's favour. India's win here was quoted at 10 paise," a bookie said.
The odds on a draw at this point of time were Rs10 and for West Indies win, the rate was Rs15. However, the last ball thriller disappointed punters who lost Rs1,000 crore for putting money on India's win.
Not only this, punters had also placed Rs400 crore on Tendulkar hitting his hundredth century in international cricket at his home turf. "But with Tendulkar getting out on 94, punters lost the entire amount they had placed on his hundredth ton," the bookie added.