Betting syndicates cash in on poll fever as odds stack up

From who will form the next government, to who will be the next Chief Minister to even who the winning candidates in closely contested constituencies will be, bets are placed on every election prospect. Subjects that attract bookies are the number of seats a party can win and even the profile of the state cabinet profile. 

Bets range from Rs. 1 lakh to Rs. 1 crore. Based on information, the police raided many of these clubs on Thursday night but returned empty handed However, sources said several lakhs were seized from a club in Egmore which police have not officially recorded. 

Sources told DT Next that the money seized from the club was eventually returned’. No case was registered.  “These bets are not made among friends. There is a well organised betting syndicate that routinely conducts such betting during cricket matches or during high profile sports events. During elections, they turn their attention to election betting,” a high ranking police officer confided. 

“In clubs, they have a token system like in bigger gambling centres. You can convert your tokens for cash from the counters. Since the betting is being done among members of leading clubs in the city, nothing much leaks out from here. Moreover, these clubs have good liaison with local police and get prior information on possible raids,” another officer added. 

Sources said after the release of AIADMK’s election manifesto, AIADMK has become a favourite among bookies with higher odds of winning. Stalin’s campaign style and stature also draws many to bet on DMK, sources added.