By Admin 
Voting for two phases of Bihar assembly elections is to be held on 6 and 11 November. Election results will come on 14 November. With the announcement of the dates, along with the increase in political activities, discussions have also started intensifying in the betting market. On one hand, political experts and various types of surveys are making their own predictions regarding the Bihar Assembly elections. Meanwhile, Rajasthan’s famous Phalodi betting market is also in the headlines, where bookies are fixing their own rates on the political contest in Bihar.
NDA claims return of government
According to reports, in Phalodi betting market, chances of NDA coming back to power are said to be high. According to speculators, NDA may get 128 to 134 seats out of 243 this time. 122 seats are required for majority, which according to these figures NDA can easily overcome. According to speculative market estimates, BJP, which is contesting on 101 seats within the NDA, may get 66-68 seats. And JDU, which is fighting on the same number of seats, is expected to get 54-56 seats.
Grand alliance estimates less than 100 seats
Speculators are predicting a weak performance for the opposition grand alliance. The possible seats available are said to be between 93 to 99. RJD, which is contesting 143 seats, is expected to get 69-71 seats. At the same time, Congress’s performance has again been described as weak.
Nitish’s price on the post of Chief Minister is lowest
In the betting market, Nitish Kumar’s name is doing the rounds as the strongest contender for the post of Chief Minister. Their price is between 40-45 paise. In the language of betting market, lower price means higher chances of winning. Latest information about the status of Tejashwi Yadav and Prashant Kishore has not been revealed.
How is the price decided?
In the betting market, the higher the probability of any event, the lower its price is kept.
Price less than 1 rupee = more chances of winning
Rs 1 to 1.25 = normal probability
Rs 2 or more = very low probability
However, prices keep going up and down depending on demand and environment.
Phalodi market was in discussion in the past also
During the Delhi Assembly elections also, the same market had predicted the victory of BJP, which proved correct in the results. Now, the answer to how accurate this estimate is in Bihar will be known only on November 14.
Betting in elections is a crime
Betting of any kind, especially betting related to elections, is legally prohibited in India. If found involved in this, there is a provision for both jail and fine.