As the high-stakes Jubilee Hills by-election results draw near, underground betting networks across Telangana and Andhra Pradesh are in full swing, with wagers reportedly crossing ₹10 lakh, according to insider sources.
Punters have gone all-in on the outcome, with Congress candidate Naveen Yadav emerging as the hot favourite over BRS nominee Maganti Sunitha.
Bets placed in Hyderabad, Warangal, and Bheemavaram circles are said to range anywhere from ₹10,000 to ₹20 lakh each.
Odds currently stand at 1:4 for BRS; meaning a ₹25,000 bet could yield ₹1 lakh if Sunitha wins; while Congress is trading at 1:2, promising double returns if Yadav secures victory.
In the Bheemavaram market, bettors predict a 25,000–30,000 vote margin for Congress, whereas Hyderabad circles expect a tighter 8,000–10,000 vote lead.
Sources revealed that beyond the usual punters, small financiers and businessmen have jumped into the betting pools, channeling funds through intermediaries.
The betting operations are said to be active in Hyderabad, Vijayawada, Bheemavaram, and Khammam, with money reportedly routed via hawala networks and encrypted messaging groups.
Late-night clubs and private societies have allegedly become hotspots for these high-stake wagers.
Despite political betting being strictly illegal, it continues to thrive during the Telangana polls.
Enforcement agencies have struggled to trace the money trail, as most bets are handled through coded digital payments and cash deals behind closed doors.
Police sources admit that while no official cases have been filed yet, covert betting rings are operating across both Telugu states.
