While the Election Commission of India hasn’t yet announced the schedule for the Lok Sabha polls, bookies across the country are already bustling with activity.
The bookies anticipate that the total turnover from betting on elections will reach approximately Rs 2.5 lakh crores.
They’re actively accepting bets on the upcoming elections, despite the results being several months away.
These bookies are engaged in forecasting the potential number of seats each major political party might secure, even though the final selection of candidates for various constituencies is still underway.
What adds intrigue to this scenario is the existence of cloned websites that mimic legal betting platforms from abroad. In India, most forms of betting are prohibited except for horse racing.
Approximately 300 such cloned websites are currently in operation, predominantly controlled by prominent bookies. Bets start at Rs 10,000, but there’s no maximum limit.
At present, bookies are accepting bets on the total number of seats expected to be won by the BJP and Congress.
Predictions suggest that the BJP may secure approximately 330 seats, with Congress expected to claim around 40 seats.
Betting rates are subject to adjustments based on prevailing political developments.
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