Betting on political outcomes is big business and there is no exception when it comes to the world’s second most populous nation as India is set to vote on the governing parties for five states.
The odds have been changing dramatically on a near daily basis.
From India Today:
The Bharatiya Janata Party (BJP) moved from a probability of 97 seats as on February 6 to 161 seats on February 21, while in the same period the Samajwadi Party (SP) slumped from 220 seats to 150. The BSP tally, according to the market, hasn't changed much, varying from 66 seats to 72.
A bookie told India Today, "Since PM Modi's statement on February 20 that there should not be any discrimination between Hindus and Muslims, the satta (betting) market has witnessed commotion, with the BJP overtaking the SP-Congress alliance for the first time."
- Nagesh Rath, Gambling911.com