Bangalore, May 8: Big bettors are disappointed that the big bookies in the Karnataka capital are more interested in the ongoing Indian Premier League (IPL) and not the results of the assembly election due to be announced on Wednesday. The bookies are reportedly more content with the fat volumes generated on the IPL matches where many unexpected results go to their advantage.
A highly-placed bookie said betting on election results is risky because the mutual trust evaporates once the big bettor face a loss. Moreover, the defaulter percentage is high in election betting.
Since elections come once in four years, the bettors know that a default will not harm their credibility in betting circles while in cricket, which is more regular affair, one default could mean that the bettors' gamble in the next game is not accepted and he is also blacklisted in the network. This means payments are more promptly made in cricket, both by the bettors and the bookies.
Another reason for which the Karnataka election results are not attracting the bookies is that after the exit poll surveys pointed to a Congress victory, the odds offered are too small. The IPL results are more preferred instead.
According to election pundits, dominance of one party means that odds will be short, resulting in small returns on big investments, and no bookie is in favour of suffering a loss.
Betting is, however, intense in the hinterland. In Kolar, for example, supporters of some MLAs are even putting their land as stakes, something which has surprised many. Heavy betting was also found in Srinivaspur assembly constituency. Some people were reportedly gambled crores of rupees against one to three acres offered by opponents.
In Mysore, supporters are reportedly putting money, property, vehicles and livestock at stake on candidates. The majority in these parts favour the Congress and offer short odds of two to one, particularly in Varuna constituency where Opposition leader Siddaramaiah is contesting. A supporter of Siddaramaiah from Srirampura has reportedly put his site at stake.
In Chamundeswari segment, bettting is underway between supporters of Congress candidate and sitting MLA M Sathyanarayana and JD(S) candidate GT Devegowda.