Mumbai: With all eyes trained on the Lok Sabha Election results, illegal betting in grey markets have garnered attention with their survey predictions, especially now when their calculations have fallen in line with those of exit polls, according to media reports.

Prominent grey markets such as the Phalodi Satta Bazar have been conducting brisk business with bets worth several crores placed during the election period, reported Financial Express.

It is insightful to examine the predictions made by the Phalodi Satta Bazar, the Mumbai Satta Bazar, and other similar markets for the 2024 Lok Sabha election results.

Most exit poll predictions indicate the BJP's return to power with a more robust mandate than in 2019.

Some exit polls even suggest the possibility of the NDA surpassing the 400-seat mark.

Interestingly, the projections of the Phalodi Satta Bazar align closely with the exit poll data, forecasting approximately 305-307 seats for the BJP and 350-355 seats for the NDA.

The estimates have fluctuated with the passage of voting phases, ranging from 292 to 330 seats.

The Phalodi Satta Bazar has predicted 303-305 seats for the BJP and 350-355 seats for the NDA. The latest estimates were released on Saturday after the polling in the seventh phase of Lok Sabha elections concluded.

Most exit polls have also predicted 350-360 seats for the NDA while some have projected over 400 seats for the ruling alliance.

In contrast to the Phalodi Satta Bazar's prediction of a clear majority for the NDA, the Mumbai betting market has forecasted a sweep for the INDIA bloc nationwide, projecting over 300 seats for the Opposition alliance.

The Phalodi Satta Bazar has gained a reputation for providing accurate estimates in many elections, making it a focal point of attention during each poll.

Its predictions for the Karnataka Assembly elections held last year closely matched the actual results, with the Congress and BJP securing 137 and 55 seats, respectively.

Similarly, the Phalodi Satta Bazar accurately forecasted a Congress victory in Himachal Pradesh in 2022, at a time when most exit polls were uncertain about the outcome.