Saturday, February 25, 2017
Satta bids prefer UP polls over Cricket series
By Dilip Awasthi
Lucknow: Even the ongoing India-Aussies Test series is not doing as well as crucial UP elections in the all-pervasive satta market.
Winning margins offered by the bookies on the two events tell the story. India winning the series gets the satory (gambler) just 40 paisa on rupee. This means that if he puts in rupee one on an India win he will get back Rs 1.40. If the satory plays for an Australia win, he gets Rs 1.60.
These rates keep fluctuating as the series progresses and then more specific sattas like margin of victory in a match, margin in the series, best batsman, best bowler etc.are thrown for bidding.
In case of UP election, as five phases of voting has already happened, the satta has become more specific. Who forms the next government : SP, BJP, BSP or hung house? Bookies are offering 20 paisa on SP victory, 25 paisa on BJP, 45 paisa on BSP and 10 paisa on hung house. This means the lesser the money offered the greater the chances of victory of that party or visa-Versa.
Along with this the bokkies are also offering a seat range and tha satory has to bid outside this range. This means that if the range offered by the bookie is achieved then the bookie wins or else the satory wins by biding on either side of the range. In this case the margins are fixed at 80 paisa as of now.
After the fifth phase the range being offered by the bookies is SP-Congress 185-190, BJP 125-130 and BSP 60-65. These figures belong to the bookie which means that if the final tally matches this the bookie wins. Suppose the satory bids for SP 184 and below and 191 seats and more he wins 80 paisa on every rupee. given above.
To say that satta markets are a prediction of some kind would be wrong but it surely can be treated as an indication. Surely a lot of homework goes in by the organisers of th satta markets because stakes are very high as more than Rs 1,000 crore will exchange hands when the results come out. The final figures which the bookies will offer will come on the day of the last phase. After this the satta woul;d played in full steam till the results come in.