#CWC15 Betting Market Humming With Buzz Of Big Upset

Even though bookies have come out with a list of World Cup 2015 favourites, who are tipped to win the tournament, the betting market is abuzz with talk of one to two major upsets in the quarterfinals and or semi finals.

At the moment, the bookies’ four favourites are Australia followed by South Africa, New Zealand and India.

Australia is at the top of the pecking order with odds on it being quoted at Rs 1.9 per rupee bet. Next come South Africa, also known as ‘chokers,’ with a rate of Rs 4.2 and New Zealand with Rs 4.6. The two are closely followed by India at Rs 4.8. The cardinal rule is: the lower the rate, the higher is the probability of the outcome.

Sources in betting circles said that India has been the fourth favourite from the outset; however, its consistent performances thus far have brought it very close to the second and third slots in terms of odds. India’s win earlier was quoted at Rs 9 per rupee bet. The odds do not favour Sri Lanka, Pakistan and West Indies, and bookies have pegged their World Cup wins at Rs 17, Rs 25 and Rs 35, respectively. The odds are stacked heavily against Bangladesh, too, at Rs 150.

Though bookies expect their top four teams to win their respective quarterfinal matches, the betting market cannot disregard the buzz about a major upset. This buzz has made smaller bookies anxious.

“The buzz is that there could be one or two upsets in quarterfinals and or semi finals,” a bookie said, adding that the unexpected result would enable some big bookies to make a killing.

“So far the results were as expected and punters earned heavily while bookies sustained losses to the tune of around Rs 15,000 crore,” the bookie said.

The world cup has so far witnessed betting to the tune of around Rs 65,000 crore. Bookies are expecting a turnover of Rs 1 lakh crore to Rs 1.25 lakh crore from the entire tournament.

Unbeknownst to most fans who don’t live in any of the countries currently participating in a certain international sports tournament, the 2015 Cricket World Cup is playing. It’s a pretty big deal for participating nations, not so much for the rest of the world.

Go anywhere in India these days and you’re likely to hear more conversations about the Cricket World Cup than any other topic. Such is the love Indians have for the sport that mock betting sites – sports betting is illegal in India – have been bombarded with Indian sports fans playing for a chance to win non-cash prizes.

According to sources the betting sites like Betmockers, India Bet, and Lagai Khai are experiencing unprecedented levels of visits. IndiaBet.com managing director George Oborne told the newspaper that these sites (and apps) “provide a safe alternative to unregulated forms of gambling on offer in India.”

The surge in visits is largely attributed to residents of India, but Betmockers CEO Tabrez Sheikh said Indians living abroad are getting in on the action too. “Where during IPL (Indian Premier League) we clocked 13,000 visitors a month, with World Cup, even before it began, we started clocking around 22,000 visitors a month.”

Those numbers are expected to increase even more as India continues its run in the tournament. The national team currently sits atop Group B with a 2-0 record and could have an extended run in the tournament that might even end up with a run at the title. India entered the tournament as fourth favorites with its odds at 6/1 to win the tourney.

Australia remains the favorite at 13/8 odds, followed by New Zealand at 3/1 and South Africa at 4/1.