Buying into Cong-NCP victory sets punters back by Rs700 crore
The Congress-NCP could not convince the masses to vote for them, but they did have believers in the city punters, who ended up losing Rs700 for the no-show.mumbai Updated: Feb 19, 2012 01:12 IST
The Congress-NCP could not convince the masses to vote for them, but they did have believers in the city punters, who ended up losing Rs700 for the no-show.
The bookies had given the alliance 95 to 105 seats, but it got only 64. "Most punters had placed bets on the alliance getting over 90 seats," said a Mumbai bookie.
However, their other wrong call, on the MNS, mitigated losses to an extent. The punters had predicted only around 15 seats for the MNS, and had opened rates for maximum of 25 seats for the party. For 25 seats, the bookies had offered a huge return of Rs5 for every rupee placed on bet.
The MNS got 28 seats, which helped them make good margins. "We had not expected so many seats for the MNS, and that is why the odds were so high for 25 seats. Punters earned around Rs200 crore on MNS results," the bookie said.