Betting on elections, cricket goes online
Shishir Arya | TNN | Mar 23, 2019, 04:02 IST
Access to one of the websites is only possible through a user ID and passwordNagpur: Betting syndicates have gone online for forthcoming elections. Sources having close links with the activities say a Gujarat based syndicate has created betting web portals under different names in place of earlier method of bookies operating over telephone. It is in use all over the country.
Betting cricket and other types of wager were already running on the portal, where the option of gambling on elections has also been activated about a week ago, said sources. TOI could get access to one of the websites where entry is only possible through a user ID and password.
Sources said the website diamondexch9.com was run by a gambling kingpin-based in Rajkot known by the name RR to bookies. It had options for betting on IPL, cricket, live casino and elections too. Sources said 2019 elections was the latest addition. Bids could be made for a minimum amount of Rs100 and there was an upper limit of Rs10 lakh for one bidder.
The first offer is to click ‘No’ option for 245 seats to BJP, or ‘Yes’ for 248 seats. The rates are even for this bet. So if BJP wins seats less than 245, the person choosing ‘No’ will win an equal amount to that has been put on stake. The same logic applies for choosing ‘Yes’ on 248 or more seats.
Further down, there are options for betting on yes or no for the same tally. For example, one chooses a yes or no option for BJP getting 247, 224, or 260 seats. Since the number of seats is same for both the choices, the amount one gets from the bookies on winning is less than what has been put on stake. In case of loosing one has to pay up a higher amount. For example on winning one gets Rs90 for each bet placed of Rs100. On losing its Rs110 for a bet of Rs100. There are also options to bet on party-wise seat tally in states like Maharashtra, Gujarat, Rajasthan and Uttar Pradesh.
Sources said the online syndicate worked through a complex layer of bookies, each one having a fixed cut. The settlement is done in cash through a local contact. Even the user-ID and passwords are provided by the local bookie who also makes settlement with each individual.
Apart from diamondexch9, the Rajkot syndicate has built a number of other websites known as white labels in technical jargon. Here the website behind the curtain would be the same but a bookie purchasing it can put his own brand name upfront. The white labels can be operated for a 10% cut, said a source.
As the website can also be accessed on smartphone, this has become the latest trend. A number of bookies are operating through white labels basically run by the Rajkot syndicate. The daily turnover all over the country can easily expected to be running into nearly a hundred crore, said a source privy to the business.
About RR, sources said the person was from Rajkot and ran a hotel as a front. He spends most of his time in UAE and has plans to shift to UK.
Betting cricket and other types of wager were already running on the portal, where the option of gambling on elections has also been activated about a week ago, said sources. TOI could get access to one of the websites where entry is only possible through a user ID and password.
Sources said the website diamondexch9.com was run by a gambling kingpin-based in Rajkot known by the name RR to bookies. It had options for betting on IPL, cricket, live casino and elections too. Sources said 2019 elections was the latest addition. Bids could be made for a minimum amount of Rs100 and there was an upper limit of Rs10 lakh for one bidder.
The first offer is to click ‘No’ option for 245 seats to BJP, or ‘Yes’ for 248 seats. The rates are even for this bet. So if BJP wins seats less than 245, the person choosing ‘No’ will win an equal amount to that has been put on stake. The same logic applies for choosing ‘Yes’ on 248 or more seats.
Further down, there are options for betting on yes or no for the same tally. For example, one chooses a yes or no option for BJP getting 247, 224, or 260 seats. Since the number of seats is same for both the choices, the amount one gets from the bookies on winning is less than what has been put on stake. In case of loosing one has to pay up a higher amount. For example on winning one gets Rs90 for each bet placed of Rs100. On losing its Rs110 for a bet of Rs100. There are also options to bet on party-wise seat tally in states like Maharashtra, Gujarat, Rajasthan and Uttar Pradesh.
Sources said the online syndicate worked through a complex layer of bookies, each one having a fixed cut. The settlement is done in cash through a local contact. Even the user-ID and passwords are provided by the local bookie who also makes settlement with each individual.
Apart from diamondexch9, the Rajkot syndicate has built a number of other websites known as white labels in technical jargon. Here the website behind the curtain would be the same but a bookie purchasing it can put his own brand name upfront. The white labels can be operated for a 10% cut, said a source.
As the website can also be accessed on smartphone, this has become the latest trend. A number of bookies are operating through white labels basically run by the Rajkot syndicate. The daily turnover all over the country can easily expected to be running into nearly a hundred crore, said a source privy to the business.
About RR, sources said the person was from Rajkot and ran a hotel as a front. He spends most of his time in UAE and has plans to shift to UK.
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