Match results are no longer the big winners for punters and bookies. 'Session betting' is the latest trend for the bookmakers
Match results are no longer the big winners for punters and bookies. 'Session betting' is the latest trend for the bookmakers
IF you had your heart pounding ahead of every ball bowled in the closely contested India-England tie yesterday, pause for a moment and think about the bookies and betters who had a record Rs 5,000 crore riding on that one match most of it on a per-ball basis.
Fans bore the heat and wrath of cops to turn up in their colourful best for the India-England World Cup match at the Chinnaswamy Stadium in Bangalore, yesterday
In order to milk the World Cup to its maximum, bookies have started a new trend of session betting, in which bets are placed on every ball of the match.
So, for example, bookies now ask people to predict whether the first ball of an inning will result in a four, a six, a single, a double, the batsman being out or some other result (see box).
"Yesterday's match set a record; never before have we seen Rs 5,000 crore being bet on one face-off. And the fact that the match was such a nail biter ensured that our session betting initiative was a resounding success.
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Excited fans wanted to bet on various aspects of the match, not just its final outcome, and betting on the important balls of the match (see box) allowed them to do just that," said a bookie from the city.
"It was a great day for betting. Rates of every team fluctuated with every ball bowled and every run scored and bets kept flowing in. Session betting also proved to be a success," said another bookie.
Bookie analysis
In yesterday's match, when the Indian top-order got off to a flying start, bookies accepted bets on India's final score as over 350.
However, when wickets began tumbling in the slog overs, bookies reversed the bets that India would score under 345 runs.
"Now every ball and score is looked upon very closely as they involve several hundred crores," said a bookie from Borivli.
England losing two wickets of set batsmen in quick succession kept the bookies busy right till the end of the match.
The 10 paise betting rate for India was overturned after England were 245 for 2 and were posing a serious threat. The rate went to between 40 and 52 paise at that point.
This, however, changed when two wickets fell off successive balls. Rates were balanced as each team stood a chance.
"India had kicked off as favourites in their outing with England at 10 paise and fluctuated between 40 and 52 paise as the game progressed.
At 45 paise at the beginning of the match, England were the clear underdogs," the bookie added.
Looking ahead
Despite India's success in the initial matches, bookies feel the actual litmus test will begin in the quarterfinals. "Indian team kagaj ke shero se bhari hai, kabhi bhi gir sakti hai (the team is comprised of paper tigers, it can collapse anytime)," said a bookie.
Sources in the betting circles said the bets for the group elimination are expected to be between Rs 1,500 and Rs 2,000 crore for each match, which will go up to nearly Rs 3,000 crore in the quarterfinals.
Matches involving India are expected to rake in a lot now that Rs 5,000 crore was bet on yesterday's match. The bookies were expecting the amount to be that much only if India made it to the final.
Some of the key bookies taking bets on yesterday's match were Jayanti Malad, Sunil Malad, Lotus, JK Ahmedabad, Bhaskar, Shoban Kalachowkie, Ashok Royal, Patiya Kano, Virendra Borivali@Amritsar, Junior Kolkata, Mandi Dilli, Kotari, Prakash Cassette, Jitu Dadi, Balu Eranda and Dilip Sadhana.
Outcomes
Possible outcomes of each ball:
Dot ball, Single, Four, Six, Wide, No Ball, Five runs (if
the ball hits the helmet, No ball + four)
Important Balls
>> First ball of the match
>> First ball of the second innings
>> First ball after the drinks break
>> First ball bowled by a new bowler
>> First ball faced by a batsman
>> First ball of every over
>> Final ball of the match
>> Final ball of the first innings
>> Final ball of every over
>> The last over of the match
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