Satta sentiment points to hung Gujarat House

Written by Mukesh Ranjan | Ahmedabad, Dec 10 | Updated: Dec 11 2007, 06:51am hrs
Trust Gujaratis to smell an opportunity to make money. The Modi vs The Rest battle in the ongoing Assembly elections might have raked in up to Rs 5,000 crore in bets, according to players in the satta market.

Modi remains the hot favourite with punters. Which means they still think that he stands a good chance of winning. Todays going rate in the satta bazaar on Modi stood at 11 paise to a rupee, meaning anyone betting Rs 100 on the Gujarat chief minister gets Rs 111 if he wins. Of much significance, however, is that the BJPs odds of returning to power stand much lower at 24 paise to a rupee.

There is a feeling among many that the BJP may actually fall short of a few seats. However, punters obviously feel that Modi may finally form the government with the help of independents, says Ashokbhai, a satta operator.

The satta sentiment must come as a welcome sign for independents, who could become critical players in the event of a hung House. Satta players, however, point out that the odds changed after Congress president Sonia Gandhi and Rahul Gandhi hit the campaign trail in Gujarat. The odds on Modi making it back to chief ministership stood at 9 paise to a rupee earlier.

Similarly, the odds on the BJP returning to power on its own was 10 paise to a rupee. With Sonia and Rahuls entry, the swing in the satta meter suggests that the BJP and Congress are running neck-to-neck. On which way the satta bazaar was swinging, one insider told FE: We are minutely tracking the public meetings of leaders of both parties. The Gandhis have been pulling huge crowds, whereas none of the BJP leaders, including LK Advani, has left an impression on voters.