KADAPA/RAJAHMUNDRY/ELURU/NELLORE: Soem Rs 300 crore is said to have changed hands in the past three days among punters who staked huge sums on the outcome of the by-elections Wednesday.Betting was particularly heavy on the Kovur byelection. The YSR Congress Party won the seat but it did not bring joy to some party leaders who are said to have wagered a whopping heavily on their candidate Prasanna Kumar Reddy winning by at least 30,000 votes. But the candidate let them down by securing a majority of less than 25,000. Though the main outcome of the byelection was not in doubt, wealthy individuals and senior leaders form all political parties reportedly bet heavily on the margin of his victory. Their enthusiasm was fuelled by the hectic canvassing by YSRC president Y S Jagan Mohan Reddy.Betting spurted after the polls closed on March 18 with reports from the polling stations predicting a majority of 50,000 for Prasanna Kumar. At least Rs 1 crore is said to have been wagered on that outcome that day. The next day, bets were taken on a majority of at least 30,000 and money poured in.The bets ranged from Rs 1 lakh to Rs 10 crore and only a few made money. In Nellore district, a YSRC activist in Cherulopalle village in Kovur mandal reportedly wagered his 10 acre land worth Rs 20 crore on a majority of 25,000 for Prasanna Kumar. Another landlord of Brahmadevi in Muthukur mandal reportedly placed a cash bet of Rs 1 crore. Among the bettors was a close relative of Y S Jaganmohan Reddy who bet Rs 3 crore and another who bet Rs 5 crore. They all lost.Gambling on the Kovur result took place far up the coast too. In East Godavari district, betting is said to have been rampant in Anaparthi, Gollalamamidada, Biccavolu, Kakinada and Konaseema. In West Godavari district, many followers of Jaganmohan Reddy in Eluru, Bhimavaram, Tanuku, Narsapur, Palacole, Ungutur, and Attili took part in the gambling, confident that a huge victory was assured.
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