The illegal betting market or Satta Bazaar is ‘bullish’ on the BJP-led NDA(National Democratic Alliance) winning the General Elections 2019 and forming a government for the second term.
Sources in the Satta Market revealed that the BJP’s chances of winning, improved after the airstrikes in Balakot, as a retaliation for Pulwama attack last month.
Prior to the Balakot strike, bookies were expecting 200-230 seats for the BJP in the coming polls. But now they are expecting 245-251 seats for BJP, and over 300 for the National Democratic Alliance.
Election betting in the Satta Market, has begun to gather pace, which was thin until the elections dates were announced.
The Lok Sabha Elections 2019 are scheduled to be held between April 11 and May 19 in seven phases.
May 23, the day of counting and announcement of results, will also mark the expiry date for trades in the betting market.
Phalodi town in Rajasthan is considered to be the hub for election trades and major markets such as Mumbai and Delhi are guided by the trades in Rajasthan.
It is still very early to expect data from this underground market to emerge, punters expect that the bets are being placed on granular details such as on states and constituencies.
Finer quotes and datas will be available once the list of candidates are announced and the political parties come out with their manifestoes.
Rates are also likely to change, as election nears, because more players place bets and volumes increase.
This election, punters expect caste equations to play a vital role, which have the potential to swing votes, revealed a source.
Another individual dealing in election speculation said that the traders and farmers also have potential to swing votes. Many traders have the feeling that they have suffered greatly because of the NDA’s policy changes such as demonetisation and the implementation of goods and services tax(GST), said a report.
Lower prices for major crops and inefficient procurement machinery except in a few commodities have resulted in farm distress and agrarian crises.
Even the Prime Ministerial candidate of Congress can make a major impact on the seat tally, however, punters see no chances of a Congress-led alliance, forming a government.
Also, if Priyanka Gandhi is announced as the PM candidate, there might be some shift towards the Congress, according to punters.