The Hindustam Times reported from Mumbai on Wednesday that the IPL commissioner Lalit Modi has himself become a focus point for the bookies. The bookies have begun betting on whether Modi would resign from the IPL post or not. The odds clearly indicate that Modi would have to go.
A Mumbai bookie said that the odds on Modi resigning is 16 paise for every rupee on bet. This means if Modi resigns, a punter placing bet on it would get 16 paise besides getting his rupee back. Further, bookies have quoted Modi surviving on the current post at Rs 5.5 for a rupee on bet, the HT report said.
The lesser the rate, the more are the chances of that result taking place. The bookies believe that Modi would resign on April 26, a day after the IPL season 3 final and the day of IPL governing council meeting. However, the bookies have kept May 1 as the maximum deadline for a decision on Modi's fate. “If nothing happens by May 1, all the bets would become null and void,“ the bookie said.
The bookies predict that out of the 14 votes in the governing council, Modi would loose the battle by 2 votes with 8 going against him and 6 for him. In 24 hours of opening rates, the bookies witnessed betting to the tune of Rs 200 crore on Modi's fate.
Meanwhile, with the IPL sea- son 3 reaching in final stages, bookies are hectically betting on the semi-finals and cup results. Mumbai Indians con- tinue to remain favourite to win the cup with a rate of Rs 2.2 for a rupee on bet. To follow it is Chennai Super Kings with a rate of Rs 2.85.
Third and fourth in the list of favourites are Royal Challengers Bangalore and Deccan Chargers with odds of Rs 3.5 and Rs 4 respectively. For the first semi-final, on Wednesday, Mumbai Indians are favourite with odds of 83 paise as against Rs 1.15 of Bangalore. In the second semi-final to be held on Thursday, Chennai is favourite to win with a rate of 83 paise as against Rs 1.15 of Deccan Chargers. The bookies have so far wit- nessed betting to the tune of Rs 35,000 crore on the IPL match- es from all over the country.
