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  India   Politics  04 Feb 2017  Hung House in Punjab, say bookies on poll eve

Hung House in Punjab, say bookies on poll eve

THE ASIAN AGE. | RAJNISH SHARMA
Published : Feb 4, 2017, 6:38 am IST
Updated : Feb 4, 2017, 7:04 am IST

In satta, lower rate is offered for the highest probability of an outcome.

Punjab map
 Punjab map

Jalandhar: It’s not just the political observers who are closely monitoring of one of the interesting triangular contests in Punjab but even the satta market is also keeping a close tab on the developments. The Doaba region, which is said to be economically the most prosperous region, also happens to be the one of the main hub of the satta network not just in the state but also in north India. Sources say there is anything between Rs 200-250crore riding on the poll outcome with huge stakes coming in from the sizeable NRI population, which hails from Doaba region.

Like most pollsters, even the satta trade in Jalandhar is also split virtually down the middle over the poll outcome. Insiders say the general trend in the satta market is that the state is headed for a hung Assembly with the Congress emerging as the single largest winner followed by Aam Aadmi Party and then the SAD-BJP. 

The satta market sources say the number of seats for the Congress is ranging from anything between 50 to 65, while that for AAP between 40 to 55 and the Akali-BJP between 15 to 20. 

“Some are even putting money on the Congress. But the rate being offered is lowest for a hung Assembly. A lot of NRIs from the Doaba are taking a keen interest,” a top state operator in Jalandhar said.

In satta, lower rate is offered for the highest probability of an outcome. So if a low rate is being offered for a hung Assembly, it means the probability of the outcome is the highest. The next rate is being for the possibility of Congress forming the government.

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``The rate being offered for a hung Assembly is 40 paise while for Congress forming the Government is 60 paise and AAP coming to power is 80 paise. So the low rate of 40 paise clearly indicates that the State is headed for a hung Assembly while the next possibility is of Congress forming the Government but its chances are less so we are offering a rate of 60 paise,’’another operator pointed out.

Satta market insiders claim that that they got the results for both the 2007 and 2012 Punjab assembly results absolutely right predicting a win for the Akali Dal-BJP combine. Interestingly, when everyone was predicting a Congress win in 2012 Assembly elections as no political party has even retained power in the State, the state market rightly predicted a win for the Akalis. What now needs to be seen if the state operators get it rights this time.

Tags: punjab assembly polls, doaba region, hung assembly
Location: India, Punjab, Jalandhar (Jullundur)