New Delhi, October 24: The Satta Matka market is reportedly charged up, with barely a few days remaining for the elections in the United States and Bihar. The satta bazar is backing the prospects of Democratic Party's Joe Biden defeating President Donald Trump in the November 3 high-stake electoral clash. US Elections 2020 Betting Odds: Cloudbet Says Donald Trump Resurging After Second Debate Even as Joe Biden Holds Edge.
In the Bihar assembly elections 2020, the bookmakers are predicting a close contest between the Rashtriya Janata Dal (RJD) and the Bharatiya Janata Party (BJP). A tight race is expected to emerge on November 10, when the Election Commission of India has scheduled the counting of votes, they claim.
An Indian betting market going abuzz over polls in the country's second most populated state is conceivable, but the euphoria over the Donald Trump vs Joe Biden battle comes as a surprise, say analysts. One of the reasons why bets are being placed on the US elections is due to Trump's popularity in India.
Despite Trump's appeal, the betters are closely analysing the American pre-poll surveys before placing the debates. Most of the wagers are in favour of Biden. The rate for the latter is 40 paise, and for Trump Re 1 is being promised, said a Moneycontrol report citing bookmakers in different parts of the nation.
By Re 1, the market promises to return Rs 1.4 lakh for every Rs 1 lakh of bet placed on Biden's victory. On the other hand, those betting for a Trump win will get double the amount - Rs 2 lakh for every Rs 1 lakh of bet placed.
Most of the bets were placed from Gujarat, Punjab and Maharashtra -- the states significantly contributing to the Indian diaspora in the United States.
For Bihar, the oddsmakers who spoke to the business daily claimed that the RJD is predicted to win between 90-98 seats, whereas, the NDA could settle between 80-86. The estimated tally of BJP, however, is expected to rise in the days to come with the rallies of Prime Minister Narendra Modi, they claimed.
Notably, betting and gambling are banned activities in India. Those found arranging bets, or placing amounts - whether online or through bookmakers - are liable to be punished under Section 4 of The Public Gambling Act, 1867.
(The above story first appeared on LatestLY on Oct 24, 2020 07:12 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).