Exit polls results give rise to reverse betting

Vijayawada: Punters who had bet on the Telugu Desam winning the polls are now placing “reverse bets” for a YSRC victory after the exit polls outcome was declared earlier this week.

There is huge betting on hot seats like Mangalagiri, Gudivada, Mylavaram, Bhimava-ram, Gajuwaka and Visakhapatnam. Organisers are offering 1:1 to 1:4 depending on the number of seats for each party and the margin of victory. Bets are also being placed on the fortunes of individual candidates.

According to reports, nearly Rs 100 crore as been bet on Mangalagiri, where minister Nara Lokesh is taking on YSRC MLA A. Ramakrishna Reddy.

Sources said that most bets are being placed on the Assembly elections, and not so much on the Lok Sabha elections.

People in the Amara-vati capital region villages who participated in land pooling are placing huge bets.  A source said that most of them were backing the TD as they turned wealthy due to the Amaravati capital coming up in their area. He said up to `10 crore was being wagered in Tullur, Penumaka, Undavalli, Mandadam and Venkatapalem and up to `1 crore in the other villages of the Amaravati capital. A few farmers were putting up for bets, residential and commercial plots that they got in exchange for land pooling.

Sources said that some people from Telangana state had came to Amaravati and were betting huge amounts through sub-agents. Punters were staying in hotels and lodges, eagerly awaiting the results.