India’s airstrike against terror outfits on Pakistan soil has convinced Satta Bazzar about the prospects of Narendra Modi’s return to power with a thumping majority in the 2019 Lok Sabha polls.

Large bookies, currently ensconced in Dubai, have pegged their odds projecting at least 245-250 seats to the Bhartiya Janata Party (BJP) in the upcoming polls. BJP’s arch-rival Indian National Congress (INC) is expected to be restricted at around 75-77 seats, sources close the betting kingpins who started accepting bets from Monday told BusinessLine. Odds may change with passing weeks but likely to improve for BJP, the source said. Also, bookies are will be using special apps to play their trade.

In 2014 general elections, the Congress had suffered historic defeat on the back of raging corruption allegations and financial scandals and was restricted to mere 42 seats in the 534 Lok Sabha. The BJP had managed to corner 283.

“In past five years, BJP and Modi’s ratings suffered as the government went through an ageing process but recent moves on reservation, better-than-expected Budget and surgical strikes have yet again revved up people’s expectations and changed their perception from the incumbent government,” the source, who had dealings in the betting circles, said.

Odds high on BJP

The odds-on BJP winning at least 240 seats are pegged at ₹0.28 over and above every rupee bet. Lower the payout on betting amount means expectation of that particular betting translating into a win are more. On BJP getting 245 seats, the odds are ₹0.62 and on 250 seats it is ₹1 over and above every rupee. For the Congress winning 77 seats, the odds are ₹1.5 over every ₹1 and same of the party winning 75 seats are ₹1.3. Odds of the Congress winning 60 seats are pegged at ₹0.33 on every rupee bet, the sources said.

The sources say Satta Bazzar was giving only 180 seats to the BJP before it presented the Budget in February but the scenario rapidly changed after that. The Satta Bazzar has also been watching BJP leader Nitin Gadkari’s statements closely to take a cue on the mood in the party and its inner perception of the situation as he was perceived by many to be a Prime Minister candidate in the BJP got less than 200 seats, the sources.

The betting turnover in this illegal market had crossed ₹1 lakh crore during 2014 polls and this time too it is expected to set a new record, the sources said.

Bookies go hi-tech

Bookies have got all high-tech this time and will be conducting their business via mobile apps. Like in the stock markets where every broker has a trading limit, large bookmakers have set a limit for every small bookies to accept bet beyond which their trades will not be accepted.

Apps such as Sky Exchange and Lotus have been installed on phones that have been handed over to all the small bookies by large players will watch the market on their screens abroad. The quotes, which will keep changing with depending on news flow and campaign trail of big leaders, will be updated on the apps and trades orders too can be placed there, the source said.