Ambati was confident of YSR Congress Party candidate Nallapuredd Prasanna Kumar Reddy winning with a landslide margin.
So sure was he that the former APIIC chairman reportedly staked Rs 70 lakh on Jagan’s party getting over and above 40,000 votes majority.
It may be recalled that several YSR Party admirers indulged in widespread betting on this election.
The results however fell short of expectations and Ambati is said to have lost his bet. YSR Congress secured 23,496 votes margin over his nearest Telugu Desam rival. No wonder,despite the comfortable win for his party candidate, Ambati Rambabu was a sad man on Wednesday