7 Lakh Crores - Betting on Elections!
Although the indian economy has received a lot of attention, the amount of money wagered on the lok sabha elections of 2024 is equivalent to the GDP of a nation in Central America, such as Panama! An estimated Rs 6 lakh crores to Rs 7 lakh crores were gambled on the elections, according to betting circles. This amount is much more than the projected Rs 2.5 lakh crores that were made two months before the polls.
When the elections were over and the exit polls began to appear, the betting ceased. Bookies are projecting that the BJP-led nda government would win, with 304–308 seats, with the nda as a whole taking about 350 seats, in line with the exit polls. It is anticipated that the congress would win 60–62 seats. For the india group of the opposition, no projections exist.
When the elections were over and the exit polls began to appear, the betting ceased. Bookies are projecting that the BJP-led nda government would win, with 304–308 seats, with the nda as a whole taking about 350 seats, in line with the exit polls. It is anticipated that the congress would win 60–62 seats. For the india group of the opposition, no projections exist.
Since betting is banned in india (except for horse racing), all of the betting was done online using websites that were copies of legitimate ones outside. Approximately 300 replicated websites functioned as franchises, all with identical pricing structures. Bookies gave gamblers login credentials, URLs, and passwords so they could place bets. New gamblers were required to deposit anywhere from Rs 500 to Rs 100 crores in advance. Remarkably, children also become interested in betting, accessing these illicit websites with the help of their addiction to online gaming applications.