This story is from December 12, 2018

Unexpected MP, Rajasthan results wipe off crores in ‘satta bazaar’

Unexpected MP, Rajasthan results wipe off crores in ‘satta bazaar’
LUDHIANA: In a big blow to the city’s satta players on Wednesday, the flip flop until the last minute on the number of seats bagged by Congress and BJP in Rajasthan and Madhya Pradesh wiped off their cash worth crores of rupees on Tuesday. In addition to this, a severe blow has been dealt to those who had placed a bet on the BJP winning less seats than the projection given by the satta bazaar until yesterday for both these states.
According to sources, bets of an estimated ₹150-200 crore were placed in Ludhiana on these poll results, including on Tuesday, and an estimated Rs50-70 crore were lost by residents whose projections went wrong.
According to some insiders connected with this trade, during the latter half of the day when projections of poll results went in favour of BJP, and several times it was shown leading in both the states, a large number of bets were placed by players on the party, and as the real results starting pouring in by evening, it was nothing less than a big disappointment for the party as it lost in Rajasthan and even in Madhya Pradesh it fell short of a clear majority of 116 seats needed to form the government.
Meanwhile, according to trade insiders, until Monday, the Satta Bazar operators had predicted 52 seats for BJP in Rajasthan, and 103 for Congress in the state. For Madhya Pradesh, the prediction was 101-103 for BJP, and Congress 118-120. Until Monday, the maximum number of residents had placed their bets on BJP getting even fewer seats and Congress getting more seats than the Satta Bazar projection, which led to a majority of satta players losing out in either case.
Insiders also say some residents who had placed bets on BJP getting below the Satta Bazar projected 38-40 seats, and Congress getting more than 42-44 seats in Chhattisgarh made decent money, but such players were very few as compared to the large number who had shown interest only in betting in Rajasthan and MP results. Similarly, those who had risked their money to bet on BJP getting more seats in Rajasthan and MP than the Satta Bazar projection too emerged victorious.
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About the Author
Mohit Behl

Principal Correspondent with Times of India, reports about Income tax, GST, ED, DRI, Customs, CBI, CBIC,CBDT, business, financial crime,banks,politics.

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