Nagpur: The Nagpur division graduates’ constituency election is said to have disrupted not only political calculations but also predictions in the betting market. Bookmakers who placed large sums on the possibility of BJP candidate Sudhakar Kohale’s victory are reportedly facing losses after the result. Sources claim that bets worth around ₹95 crore to ₹100 crore were placed in Nagpur during the election. Meanwhile, there is also talk that some people who bet on Nitesh Karale, popularly known as Karale Master, made gains in certain transactions.
Large sums are reportedly being wagered in Nagpur’s betting market on election outcomes. Sources claim that more than 500 small and large bookmakers are active in the city. Betting is said to take place on a range of events, from cricket matches to Lok Sabha, Assembly and Legislative Council elections. Predictions about the likely winner in the graduates’ constituency election had also been circulating from the outset.
In the initial betting-market calculations, Congress candidate Abhijit Wanjari was reportedly favoured. However, after October 17, bookmakers’ preference is said to have shifted towards BJP candidate Sudhakar Kohale. On October 23, Kohale’s rate was 60 paise, while Wanjari’s was 80 paise. By October 25, sources said, Kohale’s rate had fallen to 55 paise and Wanjari’s to 60 paise. These rates led many to estimate that Kohale had a stronger chance of winning and place bets in his favour, according to reports.
Meanwhile, some bookmakers are said to have stopped accepting bets from midnight on October 27. On October 28, betting in favour of Abhijit Wanjari reportedly began at some locations. As the vote count progressed and the outcome began to change, reports emerged that those who had entered into transactions based on the earlier predictions suffered financial losses.
A different situation was reportedly seen in the betting market regarding Karale Master. His name was not given much importance initially, and relatively few people placed bets on him. However, during counting, rates of more than 70 paise were reportedly offered in his favour at certain vote-count milestones. Some bookmakers are said to have benefited from these transactions.
The graduates’ constituency result is being described as having exposed the gap between pre-election predictions and betting-market calculations. Although discussion has intensified over the alleged turnover in Nagpur’s betting market and the profits and losses of bookmakers following the political result, there is no official confirmation of the claim of transactions worth ₹95 crore to ₹100 crore, or of the actual losses or profits.
