Who will win and who will lose? As soon as the elections start, the betting market starts bustling. But do you know where is the largest betting market in India? Today we will tell you about India’s biggest betting market where predictions are made regarding elections and cricket. Here people earn money by betting.
India’s largest betting market
India’s largest betting market Phalodi in Jodhpur district of Rajasthan. There is a betting market. Every year betting takes place here for various elections and international events including cricket. Crores of rupees are spent every year for betting here. The special thing about this market is that people also make predictions about elections here.
How many types of betting
Phalodi betting market There are four main types of betting. This includes rain, cricket elections and betting on numbers. According to the information, betting takes place here since before independence. At that time, there was speculation on the rise or fall of cotton. Betting in elections started here with the first general election of the country.
Phalodi Bazaar
Phalodi Bazaar is called Salt City due to salt production. Also say. Local people say that there is such an addiction to betting here that when nothing happens, people even toss a slipper and bet on whether the slipper will fall upside down or straight.
Paisa Double
According to the information, Phalodi betting market starts at 11 am. There are about 20 to 22 big betting traders and hundreds of brokers and bookies present here. According to some media reports, the brokers here get 3 percent commission. In most of the cases, if the party that invests money wins, it gets double the money.
How the market works
The betting market here is also because It is different because here especially the people betting on elections keep asking and assessing from time to time the people around them including TV, newspapers, parties, leaders and their speeches. Apart from this, all the speculators discuss together and give a collective opinion on this matter. Keeping all these things in mind, money is invested in the speculative market.
Many a times the market has been proved right
Let us tell you that in the elections held in Karnataka last year, Phalodi Satta Bazar had said that Congress will get 137 seats and BJP will get 55 seats in Karnataka. When the election results came, this prediction of Phalodi Bazaar was absolutely correct. Because Congress got 136 seats and BJP got 66 seats. If we look at history, many times the predictions of Phalodi betting market have been correct. This is the reason why when elections come, everyone’s attention turns towards the prediction and estimation of Phalodi Satta market. Experts of Phalodi market say that this market has been running traditionally since about 500 years ago.
Also read: Tickets have started being distributed for Lok Sabha elections, know what these tickets are.