After IPL, elections, now bookies eye Monsoon

As the IPL has got over, bookies are now involved in betting on the exact date of arrival of Monsoon in Mumbai. According to reports, the arrival of Monsoon in Mumbai has captured the interest of bookies and till date crores of Rupees have already been spent in the black market on the Monsoon's dates and amount of rainfall that the city will receive.

Till date the bookies have only been placing their bets on election results and cricket. But now the bookies are also eyeing the Monsoon. According to highly placed reports, “till date nearly Rs 500-600 crores have already been spent in the black market in betting on Monsoon dates.

Last year, Mumbai received below average rainfall and due to this the residents of Mumbai had to face severe water shortage. However, this year the Met Department has predicted above normal monsoon forecast for the country. The forecast has also caught the attention of bookies.

“The betting market has fixed the rate of 65 paise if the city receives the rainfall on June 9, 45 paise for June 10, 50 paise for June 11, and if the rainfall hits the city on June 12 then the rate is fixed at 80 paise,” said the reports.

The betting has not only been placed on the dates of Monsoon but on the amount of rainfall that the city will receive. “If the city receives rainfall below average then the black market has fixed the rate of 70 paise, 75 paise in case the city receives average rainfall, 60 paise if the rainfall is above average and 90 paise if the city receives more than average rainfall,” added the reports.

So, this year not only the people of Mumbai are waiting for the rain gods but the bookies have also set their eyes on the Mumbai Monsoon.    

Vinod Jagdale