Nagpur graduates' constituency poll: talk of Rs 95-100 crore in bets, bookies said to be at a loss

The Nagpur division graduates' constituency election has upset not only political calculations but also the estimates of the betting market, it is being said. Bookies who had placed large sums on the victory of BJP candidate Sudhakar Kohle are reportedly at a loss after the result. Sources claim that bets worth around Rs 95 crore to Rs 100 crore were placed in Nagpur during the election. There is also talk that some of those who bet on Nitesh Karle, popularly known as "Karle Master", gained in certain deals.

According to sources, large sums are wagered on election results in Nagpur's betting market. It is claimed that more than 500 small and big bookies are active in the city. Betting is said to run on many things, from cricket matches to Lok Sabha, Assembly and Legislative Council elections. Estimates of who would win the graduates' constituency election had been circulating from the start.

It is said that in the betting market's initial reckoning, Congress candidate Abhijit Wanjari was considered the favourite. But after October 17, the bookies' leaning shifted towards BJP candidate Sudhakar Kohle, it is said. On October 23, Kohle's rate was 60 paise, while Wanjari's was 80 paise. According to sources, by October 25 Kohle's rate had fallen to 55 paise and Wanjari's to 60 paise. Seeing these rates, many people judged that Kohle was more likely to win and placed bets in his favour, reports say.

Meanwhile, some bookies are said to have stopped taking bets from midnight on October 27. On October 28, it came to light that betting in favour of Abhijit Wanjari had begun at some places. As counting progressed and the picture of the result began to change, reports emerged that those who had struck deals on the earlier estimates suffered financial losses.

A different situation is said to have been seen in the betting market in the case of Karle Master. Initially, his name was not given much importance and few people bet on him. But during counting, rates of more than 70 paise were reportedly offered in his favour at some stages. It is being said that some bookies profited from these deals.

The result of the graduates' constituency election is being described as exposing the gap between the pre-election estimates and the betting market's reckoning. Following the political result, discussion is intense about the alleged business of Nagpur's betting market and the gains and losses of bookies. However, there is no official confirmation of the claim of deals worth Rs 95 crore to Rs 100 crore, or of the actual losses and profits.