The FIFA World Cup is currently underway. Exactly 29 years ago, in July 1998, the World Cup was also taking place. At that time, Germany and Argentina were considered the strong contenders for the 1998 World Cup. However, both countries were eliminated in the quarterfinals.

The defeat of these two countries reportedly caused heavy financial losses for the wealthy of Biratnagar, Nepal. This was because, at that time, the Atithi Sadan at Traffic Chowk in Biratnagar would be crowded with people placing bets. Back then, it was not only the World Cup, cricket, and test cricket, but also political situations and changes in government that attracted bets worth millions, according to reports.

Betting on football was considered normal. Such bets, placed in hopes of hitting the jackpot, often involved hundreds of thousands of rupees in wins and losses. In that World Cup, the surprising victories of some teams considered weak among the competitors allowed small-time bettors to make significant profits. In the quarterfinals, former World Cup champions Argentina and Germany were defeated by the Netherlands and Croatia, respectively. The defeat of teams expected to win left those who had placed bets in shock.

Arun Kumar Rathi, the regional president of the Rastriya Prajatantra Party, who had bet on Germany and Argentina in the quarterfinals, lost 80,000 rupees. That amount was considered very large nearly three decades ago. Germany was defeated 0–3 by Croatia, a nation that had separated from Yugoslavia in 1991. That result made it impossible to predict who would win the tournament. The betting traders would say, “With the defeat of countries like Italy, Germany, and Argentina, we are now hesitant to bet that Brazil will win the World Cup.” Nearly one hundred traders there used to place bets.

Betting added excitement to the football tournament. It is estimated that more than 3 million rupees changed hands among Biratnagar traders during the quarterfinals between Germany, Croatia, and the Netherlands in France. That amount was considered very large at the time. They would even bet on which team would win, the goal difference, and who would score. Most bets in the quarterfinals were placed in favor of Germany, Argentina, and Italy. According to the traders, if Germany, Italy, or Argentina lost, the bettor had to pay 10,000 rupees to the rival, but if they won, the rival had to pay 2,000 rupees to the bettor.