Times of India story

NEW DELHI/MUMBAI: The satta (Gambling) market was plumbing for Bush late on Tuesday, with the Capital favouring the US president by the thinnest of margins and Mumbai marking him as clear favourite. The two metros accounted for about Rs 200 crore (approx $400 mn) wagered on the outcome of the US poll.

Bush was the clear favourite in the Capital till seven days ago with a Rs 100 ($2) bet on him fetching a return of Rs 40 (80 cents) as against Rs 75 ($1.5) on Kerry. But now Bush is ahead only by the skin of his teeth: Rs 60 ($1.2) on Bush and Rs 65 on Kerry. A Delhi bookie said Tuesday trends indicated the odds on Kerry could shorten through the night.

Mumbai was a different story, with the odds clearly favouring a Bush victory. While the 'bhav' (price) for Bush was 75 paise, it was Rs 1.20 for Kerry.

In other words, every 100 rupees ($2) bet on Bush will fetch Rs 75 ($1.5), while a Kerry-backer stands to rake in Rs 120 ($1.4) for a similar bet.