We all know that Kodi Pandelu (cockfights) during Sankranthi in Andhra Pradesh is pure gambling. It is largely a game of luck, a 50:50 chance. A person may bet Rs 1 crore, and if he loses, he loses everything.
But what is the best way to make assured quick money using the same Rs 1 crore without betting? The answer is financing those who bet.
Many people come from different Telugu cities and towns to Kodi Pandelu areas carrying crores of rupees in cash, traveling in their own cars. They usually come as a group that includes an active agent, an experienced motor mechanic, and a gold tester.
The bettors who lose money become the main targets. As soon as someone loses heavily, the active agent approaches them and proposes instant cash in exchange for mortgaging their gold ornaments, bike, or car.
Due to the gambler’s mindset and often being under the influence of alcohol, many are ready to mortgage their assets immediately.
If it is a car, the motor mechanic inspects the vehicle and fixes a rate, usually much lower than the market value. An RTO form is taken, the owner is made to sign it, and instant cash is handed over.
The bettor is given one month’s time to repay the amount with interest and take back the car. If he fails, the car is sold.
The same applies to gold. If the bettor chooses to mortgage gold chains or rings, the gold tester checks the purity and weight.
Cash worth half or three-fourths of the gold’s value is given. The remaining process is the same, repayment with interest within a fixed period or permanent loss of the asset.
Thus, a person who came to the Kodi Pandelu area with Rs 1 crore made a definite profit of around another Rs 1 crore within a few hours and left the place.
This business is spreading rapidly and bringing increased awareness. Next year, this financing model around Kodi Pandelu is expected to grow even bigger.