Say bookies; nearly Rs 25,000 crore is expected to change hands in Monsoon betting this yearSay bookies; nearly Rs 25,000 crore is expected to change hands in Monsoon betting this year
Say bookies; nearly Rs 25,000 crore is expected to change hands in Monsoon betting this year
Mumbai will soon play host to the bookie community from across the country, who will visit the city to accept bets and cash-in on the monsoon season. According to punters, the Monsoon will hit the city between June 11 and June 13. According to insiders, local bookies are no longer that interested in betting on the Monsoon and, hence, punters from other states are taking over. The visiting bookies are likely to mix business with pleasure and occupy posh hotels across the city. Nearly Rs 25,000 crore is expected to change hands in the next four months.
Bookies predict a fairly good Monsoon with around 2,000 mm of rainfall this season. "In a first, separate bets will be accepted for Santacruz and Colaba this year," said a bookie, on condition of anonymity. He said bookies base their predictions and decide on odds by following the forecast of the Colaba Weather Bureau. They also follow international meteorological charts provided by BBC and CNN for overseas travellers.
"Monsoon betting is very different from cricket betting. A lot depends on the wind movement and we rely heavily on data procured from weather bureaus across the country and the world," said another bookie. He said gauging the pressure of the westerly winds, which bring rain clouds close to the shore, is a difficult task and, hence, they rely on humidity levels for their forecasts.
The rates are 32p for 1,700 mm, 55p for 1,800 mm and Rs 1.05 for 1,900 mm of rainfall in the Colaba division this season. For Santacruz, the rates are 21p for 1,800 mm, 42p for 1,900 mm, 95p for 2,000 mm and Rs 1.45 for 2,100 mm.
Bets are on
>> 32p for 1,700 mm
>> 55p for 1,800 mm
>> R1.05 for 1,900 mm
2,000 The amount of rainfall (in mm) that bookies expect this season
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